USDCHF Price: Rejection at $0.947 Resistance Level, Further Price Decrease Envisaged

Service for copy trading. Our Algo automatically opens and closes trades.

The L2T Algo provides highly profitable signals with minimal risk.

24/7 cryptocurrency trading. While you sleep, we trade.

10 minute setup with substantial advantages. The manual is provided with the purchase.

79% Success rate. Our outcomes will excite you.

Up to 70 trades per month. There are more than 5 pairs available.

Monthly subscriptions begin at £58.

L2T Algo

TELEGRAM

RESULTS

USDCHF Price Analysis – March 18

When the Bears’ momentum increase, USDCHF price may break down the support level at $0.931, then, 0.931 levels may be reached and it may decline to $0.927 level. Should the bears lose momentum at the support level of $0.935, bullish trend may continue towards the $0.939, $0.943 and $0.947 levels.

USDCHF Market

Key Levels:

Resistance levels: $0.939, $0.943, $0.947

Support levels: $0.935, $0.931, $0.927

USDCHF Long-term trend: Bullish

USDCHF is bullish on the long-term outlook. The currency pair soars towards north after the breakout from the ranging movement within the resistance level of $0.927 and $0.922 last two weeks.  Last week, the bulls were gaining more pressure and the price increases to the high resistance level of $0.947, the price pulled back with the formation of inverted pin bar. At the moment, the bears are trying to push the price to break down $0.935 support level.

USDCHF is trading above the two EMAs at close contact. The 9 periods EMA is found above the 21 periods EMA which indicate that bulls’ momentum is reducing. The Relative Strength Index period 14 is at 57 levels displaying bearish market direction. When the Bears’ momentum increase, USDCHF price may break down the support level at $0.931, then, 0.931 levels may be reached and it may decline to $0.927 level. Should the bears lose momentum at the support level of $0.935, bullish trend may continue towards the $0.939, $0.943 and $0.947 levels.

 USDCHF Medium-term Trend: Bearish

USDCHF is bearish in the medium-term outlook. The bulls were able to push the currency pair to the resistance level of $0.947. The price pulled back to retest the support level of $0.935. The price consolidates for short period of time. On March 17, bears gained momentum, the support level of $0.939 was broken downside.

The 9 period EMA is crossing the 21 periods EMA downside as a sign of bearish market. USDCHF is trading below the two EMAs. Meanwhile, the Relative Strength Index period 14 is at 46 levels with signal line pointing down to indicate sell signal.