The bias on the USD/CHF pair has turned bearish. Price went seriously southwards this week, testing the support level at 0.9900. The support level has been tested several times without price staying below it. The reality, however, is that, price will eventually drop below it, and continue going further southwards.
There is a Bearish Confirmation Pattern in the 4-hour chart, The EMA 11 is below the EMA 56, and the Williams’ % Range period 20 will soon move again into the oversold region. Further bearish movement is a strong possibility.
The material has been provided by InstaForex Company – www.instaforex.com
USD/CHF
The bias on the USD/CHF pair has turned bearish. Price went seriously southwards this week, testing the support level at 0.9900. The support level has been tested several times without price staying below it. The reality, however, is that, price will eventually drop below it, and continue going further southwards.
There is a Bearish Confirmation Pattern in the 4-hour chart, The EMA 11 is below the EMA 56, and the Williams’ % Range period 20 will soon move again into the oversold region. Further bearish movement is a strong possibility.
The material has been provided by InstaForex Company – www.instaforex.com
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