USDCHF: Slipped Back Below Rectangle, Bearish Threat Comes into Sight Again
USDCHF: Slipped Back Below Rectangle, Bearish Threat Comes into Sight Again
The USDCHF pair slides back below the rectangle formation as you can see on my daily chart below, suggests another potential bearish momentum aim for a downside reversal/correction. Nonetheless, we need a break below the “tail” of the bullish pin bar printed last week located at 1.0125 to affirm the bearish scenario with nearest technical objective lies at 1.0075.
The bias is bearish in the near term. Immediate resistance is seen around 1.0175. A clear break and a daily close back above that area would lead price to neutral zone in the near term testing 1.0215 area but key resistance remains at 1.0236 which need to be broken to the upside to continue the bullish scenario.
On the downside, a decisive break below 1.0125 would affirm the bearish technical setup strengthening the case for a potential drop to target firstly 1.0075, secondly 1.0035 and finally 1.0000 which from current context located just above the daily EMA 200.
Source: https://fxinstructor.com/blog/usdchf-slipped-back-below-rectangle-bearish-threat-comes-into-sight-again
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).