USDCHF Price: Bearish Reversal Signal at $0.91  

Sellers are mounting force

USDCHF Price Analysis – 25 January

If the purchasing momentum can sustain over the $0.91 resistance position, the price can rise above $0.92 and approach the $0.93 hedge levels. Merchandisers can, however, drive the price below $0.90 if they provide enough pressure to $0.89 and into the $0.88 regions.

Key Levels:

Resistance levels: $0.91, $0.92, $0.93

Support levels: $0.90, $0.89, $0.88

USDCHF Long-term trend: Bearish

The USDCHF daily chart is trending downward. Customers have profited from the strong USDCHF market since the price first appeared at $0.88 three weeks ago. As of December 10, the USDCHF market was dominated by buyers. The currency pair was worth $0.92 two days ago. Near the first suggested level, there was a bearish engulfing candle pattern. After then, the price began to fall by roughly $0.90. The start of the bearish trend was indicated by the formation of head and shoulder chart pattern. At the moment, it is approaching the $0.90 threshold.

The USDCHF exchange rate is currently below the Hull Suite, indicating negative reversal impulse. Price decreases are indicated by the forex signal QQE MOD, which is skewed below the zero line. If the purchasing momentum can sustain over the $0.91 resistance position, the price can rise above $0.92 and approach the $0.93 hedge levels. Merchandisers can, however, drive the price below $0.90 if they provide enough pressure to $0.89 and into the $0.88 regions.

USDCHF Medium-term Trend: Bearish

It is clear that the medium-term forecast for the USDCHF is not bright. The currency pair had surged a few days earlier due to a bullish engulfing candle formation near the $0.88 barrier level. On January 13, the price successfully attempted to peak at $0.91, with the formation of inverted pin bar. The current price is approximately $0.90.

When the currency pair trades below the Hull Suite signal, it indicates a bearish market. If the QQE MOD is lower than zero, it is recommended to offer anything for sale.

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