USDCHF Price: Sellers’ Pressure Is Becoming Stronger

Sellers hold unto USDCHF market

USDCHF Price Analysis –03 October

The price may rise above $0.81 and get closer to the $0.82 hedging scenario if the buying impulse can hold above the $0.80 resistance position. If merchandisers put forth enough effort to lower the price from $0.79 to $0.77, they can still lower it to $0.76.

Key Levels:

Resistance levels: $0.80, $0.81, $0.82

Support levels: $0.79, $0.77, $0.76

USDCHF Long-term trend: Bearish

For over a month, the USDCHF map has been on a downward trend. Since the price was established at $0.82 a few weeks ago, customers have been able to meet the massive demand for USDCHF. Merchandisers have controlled the USDCHF market since February 25. A few days ago, the value of the two currencies was $0.82. At the first recommended position, a bearish engulfing candle pattern was visible, and the price fell twice to $0.79. In addition, the price started to drop again. The bearish harami candle pattern was observed to have emerged at the first anticipated support level. The current target price is $0.79 due to its remarkable reversal.

There is a negative impulse at the moment because the USDCHF exchange rate is below the Hull Suite. The forex signal QQE MOD, which is located below the zero line, indicates price falls. The price may rise above $0.81 and get closer to the $0.82 hedging scenario if the buying impulse can hold above the $0.80 resistance position. If merchandisers put forth enough effort to lower the price from $0.79 to $0.77, they can still lower it to $0.76.

USDCHF Medium-term Trend: Bullish

The USDCHF’s medium-term prognosis is getting better. The double bottom chart pattern at the $0.79 hedging position had put the currency brace under positive pressure a few days prior. On September 17, an inner bar candle pattern emerged, and the price unsuccessfully tried to break below at $0.79. The price started to go up as one went north. The market will plummet over the previously anticipated barrier of $0.79 if bulls are successful in breaking through to the aim of $0.80. Now, the bulls are in control.

A bull market begins when the currency brace crosses the Hull Suite signal. If the QQE MOD is more than zero, any offer to purchase is welcome.

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