USDCHF Price: Bears Are Prevailing

USDCHF price may decrease further

USDCHF Price Analysis –06 September

The price may rise above $0.81 and get closer to the $0.82 hedging scenario if the buying impulse can hold above the $0.80 resistance position. If merchandisers put forth enough effort to lower the price from $0.79 to $0.77, they can still lower it to $0.76.

Key Levels:

Resistance levels: $0.80, $0.81, $0.82

Support levels: $0.79, $0.77, $0.76

USDCHF Long-term trend: Bearish

For over a month, the USDCHF map has been on a downward trend. Since the price was established at $0.84 a few weeks ago, customers have been able to meet the massive demand for USDCHF. Merchandisers have controlled the USDCHF market since February 25. A few days ago, the value of the two currencies was $0.82. At the first recommended position, a bearish engulfing candle pattern was visible, and the price fell twice to $0.79. In addition, the price started to drop again. The bearish harami candle pattern was observed to have emerged at the first anticipated support level. The current target price is $0.79 as a result of its superb reversal. A negative impulse is shown by the USDCHF exchange rate’s present position below the Hull Suite. The forex signal QQE MOD, which is located below the zero line, indicates price falls. The price may rise above $0.81 and get closer to the $0.82 hedging scenario if the buying impulse can hold above the $0.80 resistance position. If merchandisers put forth enough effort to lower the price from $0.79 to $0.77, they can still lower it to $0.76.

USDCHF Medium-term Trend: Bearish

The USDCHF’s medium-term prognosis is getting worse. The double bottom chart pattern close to the $0.79 hedging position had been putting positive pressure on the currency brace a few days prior. On July 23, the price made an unsuccessful attempt to break below at $0.79 following the appearance of an inner bar candle pattern. The price started to decline as one went south. $0.79 is the goal. However, if bears can break below the previously anticipated barrier of $0.79, the market is crashing past it. Bears are now in control.

A bear market is in progress when the currency brace passes the Hull Suite signal. If the QQE MOD is less than zero, any offer for a sale transaction is encouraged.

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