Since a bearish signal was generated on the USD/CHF, the price has moved in a ranging mode. When volatility resumes, the price would move lower and lower again, reaching the support levels at 0.9400 and 0.9350. A stronger movement is anticipated before the end of this week, which could overturn the current scenario.
There is a Bearish Confirmation Pattern in the 4-hour chart and it would likely become clearer and clearer as price journeys downwards, reaching one support level after another. The EMA 11 is below the EMA 56, and the Williams’ % Range period 20 is neither in the oversold nor in the overbought region.
The material has been provided by InstaForex Company – www.instaforex.com
USD/CHF
Since a bearish signal was generated on the USD/CHF, the price has moved in a ranging mode. When volatility resumes, the price would move lower and lower again, reaching the support levels at 0.9400 and 0.9350. A stronger movement is anticipated before the end of this week, which could overturn the current scenario.
There is a Bearish Confirmation Pattern in the 4-hour chart and it would likely become clearer and clearer as price journeys downwards, reaching one support level after another. The EMA 11 is below the EMA 56, and the Williams’ % Range period 20 is neither in the oversold nor in the overbought region.
The material has been provided by InstaForex Company – www.instaforex.com
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