USDCHF Price May Experience Bullish Reversal at $0.8859 Level

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.


Bears’ momentum may increase in USDCHF market

USDCHF Price Analysis – 16 April

In case sellers exert enough pressure, the $0.88 barrier level might be broken, and the falling trend might carry on to the $0.87 and $0.86 levels. The price may breach the $0.89 resistance level and rise toward the $0.90 and $0.91 resistance levels if buyers hold the $0.88 support level.

USDCHF Market

Key Levels:

Resistance levels: $0.89, $0.90, $0.91

Support levels: $0.88, $0.87, $0.86

USDCHF Long-term trend: Bearish

USDCHF is on a bearish movement on the Long-term outlook. A few weeks ago, sellers started dominating the market. The $0.93 resistance level was repelled by the price. For a few days, it moved in all directions. On March 9, a bearish engulfing candle formed, which caused the value to fall to test the $0.90 support level. As buyers and sellers battled for control of the aforementioned level, the price retested $0.93 on March 15; at this time, it has broken past the $0.90 and $0.89 levels and is confronting the $0.88 level.

The 9-period EMA has crossed the downside of the 21-period EMAs, and USDCHF is currently trading below the two EMAs. A bearish market is indicated by the Relative Strength Index period 14 at 34 levels. In case sellers exert enough pressure, the $0.88 barrier level might be broken, and the falling trend might carry on to the $0.87 and $0.86 levels. The price may breach the $0.89 resistance level and rise toward the $0.90 and $0.91 resistance levels if buyers hold the $0.88 support level.

USDCHF Medium-term Trend: Bearish

USDCHF is bearish in the medium-term outlook. Upon reaching $0.93, a double top chart pattern emerged. It suggests a market that is gloomier. The trend for the currency pair shifts downward. In response to the sellers’ intervention, the price fell until it contacted the $0.90 support level. In the vicinity of the $0.93 resistance level, buyers tried to drive the price higher. The price decreased to the support level of $0.88 and it is challenging for buyers at the moment.

The 9-period EMA remains below the 21-period EMA. The USDCHF is currently trading between the two EMAs, indicating a bullish reversal or pullback market. The signal line on the Relative Strength Index period 14 is displaying a bullish direction at the 42 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 *