USDCHF Price May Pull Back Before Bullish Trend Continues

Bears are opposing bulls in USDCHF market

USDCHF Price Analysis – 26 January

If the purchasing momentum can sustain over the $0.86 resistance level, USDCHF may advance past the $0.88 resistance level and approach the $0.89 barrier level. If sellers apply enough pressure, they might be able to move the price past $0.85 and into the $0.84 and $0.83 ranges.

USDCHF Market

Key Levels:

Resistance levels: $0.86, $0.88, $0.89

Support levels: $0.85, $0.84, $0.83

USDCHF Long-term trend: Bullish

There is an upward trend on the USDCHF daily chart. The trend on the USDCHF market was downward, favoring sellers, although not by nearly the same amount as $0.89. Sellers have been in control of the USDCHF market since October 24. The price of the currency pair dropped as low as the $0.82 support level on December 28. Near the $0.82 support level, a bullish engulfing candle pattern first emerged, signaling the beginning of an upswing. The price ultimately settled at $0.86. At the moment, it is strongly pressing the $0.86 level.

The current USD/CHF exchange rate is above the Hull Suite indicator, indicating a strengthening buying trend. Climbing prices are shown by the QQE MOD, which is climbing over the zero line. If the purchasing momentum can sustain over the $0.86 resistance level, the price may advance past the $0.88 resistance level and approach the $0.89 barrier level. If sellers apply enough pressure, they might be able to move the price past $0.85 and into the $0.84 and $0.83 ranges.

USDCHF Medium-term Trend: Bearish

The USDCHF is decreasing, according to the medium-term tendencies. On December 29, the currency pair began to increase when a double-bottom chart pattern appeared close to the $0.86 resistance level. On January 2, the price went up before stabilizing at $0.86. It is having difficulty breaking above $0.86. Price is currently declining which may be a pullback.

A bearish market is indicated by the currency pair’s trading below the Hull Suite signal. If the QQE MOD is less than zero, selling is advised.

You can purchase Lucky Block here. Buy LBLOCK