USDCHF Price May Experience Bullish a Reversal at $0.83 Support Level
Login

USDCHF Price May Experience Bullish a Reversal at $0.83 Support Level

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Bullish momentum may increase in USDCHF market

USDCHF Price Analysis – 12 January

If the buying momentum can continue above the $0.85 resistance level, USDCHF may advance past the $0.86 resistance level and approach the $0.87 barrier levels. If sellers apply enough pressure, they might be able to move the price past $0.84 and into the $0.83 and $0.82 ranges.

USDCHF Market

Key Levels:

Resistance levels: $0.85, $0.86, $0.87

Support levels: $0.84, $0.83, $0.82

USDCHF Long-term trend: Bearish

The daily chart of USDCHF is going lower. The USDCHF market was falling and sellers were in charge. Not quite as much as $0.89, though. Sellers have been in control of the USDCHF market since October 24. The price of the currency pair dropped down to the $0.82 support level on December 28. Right around the $0.82 support level, a bullish engulfing candle pattern first emerged, signaling the beginning of an incline. The price eventually consolidates within $0.85 and $0.84 levels.

USDCHF Price May Experience Bullish Reversal at <img fetchpriority=.83 Support Level" width="580" height="251" data-lazy-src="https://learn2.trade/wp-content/uploads/2024/01/Daily-30-1024x443.png"/>

Selling momentum is getting weaker because the USDCHF exchange rate is presently above the Hull Suite indicator. The QQE MOD is fading away below zero level, which indicates a price increase. If the buying momentum can continue above the $0.85 resistance level, the price may advance past the $0.86 resistance level and approach the $0.87 barrier level. If sellers apply enough pressure, they might be able to move the price past $0.84 and into the $0.83 and $0.82 ranges.

USDCHF Medium-term Trend: Bullish

Trends over the medium term show that the USDCHF is increasing. On December 29, the currency pair began to rally as a double-bottom chart pattern appeared close to the $0.85 resistance level. On January 2, the price went up before stabilizing at $0.85. The price is currently retracing as burial stone Doji appeared at $0.85.

A bullish USDCHF market is indicated by the currency pair’s trading above the Hull Suite signal. Buying is advised when the QQE MOD is greater than the zero criterion.

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

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
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.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News