#USDCHF @ 0.90607 bears could be headed for a test of the 0.8920s.
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
- USD/CHF bears could be headed for a test of the 0.8920s.
- The bears will need to commit below 0.9150 on a correction.
As per the prior analysis, USD/CHF Price Analysis: Bears are in the market and eye a break of 0.9120, the bears stayed with the course and busted to lower levels as the following will illustrate.
It was noted that the M-formation was bearish with the price struggling at the neckline resistance…
The resistance on the hourly chart was showing that the price was being resisted after the break of structure, BoS, from the prior day.
At this juncture, it would appear that the momentum is with the bears that are headed for a test of the 0.8920s as per the following weekly chart:
Meanwhile, the daily chart shows that the bears have broken structure as follows:
The bears are meeting prior support of 0.9060 and have pierced the level to 0.9055. There could be a correction here but if the bears commit below 0.9150, the likelihood will be for a downside continuation as per the weekly support area.
[/s2If]
Join Our Telegram Group
