USDCHF Price May Commence a Bullish Trend

Bulls are gradually taking over USDCHF market

USDCHF Price Analysis – 21 March

If the purchasing momentum can sustain over the $0.89 resistance position, USDCHF can rise above $0.90 and approach the $0.91 hedging levels. Merchandisers can, however, cut the price below $0.86 if sellers work hard enough to move the price from the $0.88 to the $0.87 level.

Key Levels:

Resistance levels: $0.89, $0.90, $0.91

Support levels: $0.88, $0.87, $0.86

USDCHF Long-term trend: Bearish

The USDCHF chart has been trending downward over the past week. Clients have profited from the strong USDCHF market since the price first appeared at $0.91 three weeks ago. As of February 25, sellers have dominated the USDCHF market. The two currencies were worth $0.89 a few days ago. A bearish engulfing candle pattern was displayed at the initial level that was advised. The price then began to decline by over $0.87. At the previously noted resistance level, the bearish harami candle pattern was observed to appear. At the moment, $0.89 is the target price.

The USDCHF exchange rate is currently below the Hull Suite, indicating a bearish 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 $0.89 resistance position, the price can rise above $0.90 and approach the $0.91 hedging levels. Merchandisers can, however, cut the price below $0.86 if sellers work hard enough to move the price from the $0.88 to the $0.87 level.

USDCHF Medium-term Trend: Bullish

The medium-term outlook for the USDCHF is noticeably positive. A few days prior, the currency pair had undergone a bullish reversal due to a double bottom candle pattern near the $0.87 barrier level. On March 25, the price successfully tried to break up at $0.88 when an inner bar candle pattern appeared. The price started to rise toward the northward. The price is currently close to $0.89. If bulls are able to break through the previously mentioned barrier, the price can increase to $0.90.

When the currency pair rises over the Hull Suite signal, it is a sign of a bull market. If the QQE MOD is greater than zero, it is recommended to offer anything for sale.

Start using a world-class auto trading solution

You can purchase Lucky Block here. Buy LBLOCK