Bulls may take over USDCHF market
USDCHF Price Analysis – 20 January
If sellers maintain their pressure and hold the $0.92 resistance level, USDCHF will pass through the $0.91 level and decline toward the $0.90 and $0.89 support levels. The $0.92 resistance level may be breached on the positive if the buyers apply additional pressure, and the bullish trend may continue to the $0.93 and $0.94 levels.
USDCHF Market
Key Levels:
Resistance levels: $0.92, $0.93, $0.94
Support levels: $0.91, $0.90, $0.89
USDCHF Long-term trend: Bearish
USDCHF is on a bearish movement on the Long-term outlook. Last week, the sellers’ momentum failed when the support level of $0.92 was challenged, and the price was unable to decline below it. The buyers attempted to raise the price above the $0.93 resistance level, but the buyers’ impetus was insufficient. According to this scenario, the pair was moving in a range within $0.93 and $0.92 levels. There was a breakout last week on 18 January, the support level of $0.90 was tested.
The 9-period EMA and the 21-period EMA are separating from each other and USDCHF is trading below the two EMAs. A bullish market direction is indicated by the Relative Strength Index period 14 being at 43 levels. If sellers maintain their pressure and hold the $0.92 resistance level, the price will pass through the $0.91 level and decline toward the $0.90 and $0.89 support levels. The $0.92 resistance level may be breached on the positive if the buyers apply additional pressure, and the bullish trend may continue to the $0.93 and $0.94 levels.
USDCHF Medium-term Trend: Bullish
USDCHF is bullish in the medium-term outlook. The price was on the ranging movement last week. The $0.92 support level was defended by the bulls when the sellers’ momentum was weak and could not push through $0.92 support level. Sellers eventually prevailed and the support level of $0.90 was tested. Today, buyers dominate the market and the price is increasing at the moment.
The 9-period EMA is crossing the 9-period EMA upside. The USDCHF is currently trading above the two EMAs, indicating a bullish market. The signal line on the Relative Strength Index period 14 is displaying bullish direction.
You can purchase crypto coins here: Buy LBLOCK
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.