USDCHF Price: Buyers Are Gathering Momentum to Dominate Market

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


Bulls’ momentum may increase in USDCHF market

USDCHF Price Analysis – 24 March

The $0.92 barrier level may be broken if the buyers apply enough pressure, and the upward trend may continue to the $0.93 and $0.94 levels. If sellers exert further pressure and hold the $0.92 resistance level, the price may pass the $0.91 support level and fall toward the $0.90 and $0.89 support 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. In the previous two weeks, buyers dominated the market. The price was forced past the $0.93 level of resistance. For a few days, it moved in all directions. A bearish engulfing candle developed on March 9 and the price dropped to test the $0.90 support level. The price tested $0.93 last week as buyers faced off against sellers at the aforementioned level; currently, the price is retracing.

The 9-period EMA has crossed the 21-period EMAs, and the USDCHF is currently trading just below the two EMAs. A bearish market is indicated by the Relative Strength Index period 14 at 45 levels. The $0.92 barrier level may be broken if the buyers apply enough pressure, and the upward trend may continue to the $0.93 and $0.94 levels. If sellers exert further pressure and hold the $0.92 resistance level, the price may pass the $0.91 support level and fall toward the $0.90 and $0.89 support levels.

USDCHF Medium-term Trend: Bullish

USDCHF is bullish in the medium-term outlook. The ongoing formation of double bottom chart pattern is noticed at the support level of $0.91. It means that bulls are gathering momentum to take over the USDCHF market. The currency pair enters a bearish trend. When buyers were trying to increase the price around the $0.93 resistance level, sellers stepped in, and forced the price to drop until it reached the $0.91 support level last week. The price is bouncing up toward the resistance level of $0.92 level.

 

The 9-period EMA is trying to cross above the 21-period EMA. The USDCHF is currently trading slightly above the two EMAs, indicating bullish momentum. The signal line on the Relative Strength Index period 14 is displaying a bullish direction at the 49 levels.

You can purchase Lucky Block here. Buy LBLOCK

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *