USDCHF Price: Bearish Momentum May Continue

Bearish momentum increases in USDCHF market

USDCHF Price Analysis – 05 January

USDCHF movement beyond the $0.86 resistance level and toward the $0.87 barrier levels is possible if the purchasing momentum can sustain itself above the $0.85 resistance level. Sellers may be able to push the price past $0.83 and into the $0.82 and $0.81 regions if they exert sufficient pressure.

USDCHF Market

Key Levels:

Resistance levels: $0.85, $0.86, $0.87

Support levels: $0.83, $0.82, $0.81

USDCHF Long-term trend: Bearish

USDCHF daily chart is trending downward. Sellers were in control of the declining USDCHF market. Not quite as much as $0.89, though. Since October 24, sellers have been in charge of the USDCHF market. The currency pair’s price surged over the $0.90 support level. A bearish engulfing candle pattern first appeared on November 14, close to the $0.90 resistance level, indicating the start of a drop. After a while, the price found support at $0.83, and it is currently pulling back.

It seems that sellers’ momentum are getting weaker because the USD/CHF exchange rate is presently below the Hull Suite indicator. A bearish market is indicated by the QQE MOD indicator which is below zero level. Price movement beyond the $0.86 resistance level and toward the $0.87 barrier levels is possible if the purchasing momentum can sustain itself above the $0.85 resistance level. Sellers may be able to push the price past $0.83 and into the $0.82 and $0.81 regions if they exert sufficient pressure.

USDCHF Medium-term Trend: Bullish

The USDCHF is trending higher over the medium term. When a double bottom chart pattern appeared on 29 December, close to the $0.83 support level, the currency pair began to incline. The price rise on 02 January before leveling off at $0.85. The price is currently retracing as gravestone Doji appeared at $0.85.

A bullish market is indicated by the currency pair’s trading above the Hull Suite indicator. When the QQE MOD is above zero level selling is advisable.

You can purchase Lucky Block here. Buy LBLOCK