Buyers may dominate USDCHF market soon
USDCHF Price Analysis – 23 August
If the buying momentum can sustain over the $0.85 resistance level, USDCHF can move above $0.86 and approach the $0.87 barrier levels. If sellers exert enough pressure, they can drive the price past $0.84 and into the $0.83 and $0.82 areas.
Key Levels:
Resistance levels: $0.85, $0.86, $0.87
Support levels: $0.84m $0.83, $0.82
USDCHF Long-term trend: Bearish
The USDCHF daily chart is trending downward. Customers benefited from a bearish USDCHF market, but not by nearly as much as $0.87. The USDCHF market was under buyer control from May 1 to June 20. The price of the currency pair was almost precisely $0.921 a few weeks ago. Near the first suggested level, there was a bearish engulfing candle pattern. Instantly, the price dropped to $0.85, signifying a significant loss. Two tests of the previously determined support level signaled the beginning of the bearish trend. It is currently retreating near the $0.84 mark.
The USD/CHF exchange rate, which is currently less than the Hull Suite, indicates a negative reversal impulse. Price decreases are indicated by the forex signal QQE MOD, which is tilted below the zero line. If the buying momentum can sustain over the $0.85 resistance level, the price can move above $0.86 and approach the $0.87 barrier levels. If sellers exert enough pressure, they can drive the price past $0.84 and into the $0.83 and $0.82 areas.
USDCHF Medium-term Trend: Bearish
It is clear that the USDCHF is decreasing in the medium run. A few days ago, near the $0.84 support level, the bullish engulfing candle pattern appeared, indicating the beginning of the currency pair’s incline. The price made another effort to breach the $0.87 resistance level on August 15, but it was unable to keep on course. The price is currently coming close to $0.84.
The currency pair’s trading below the Hull Suite signal indicates a bearish market. If QQE MOD is less than zero, selling is suggested.
Start using a world-class auto trading solution
You can purchase Lucky Block here. Buy LBLOCK
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
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.