Technical analysis and trading recommendations for the USDCHF currency pair as of May 23, 2018
May 24, 2018 1:21 am
Earlier, we already discussed that the upward movement is overheated behind more than 800 points of the vertical stroke. It is where the quotation reached an important range level of 1.0050 / 1.0100, after which it slowed down the movement. As of this writing, we see how the periodic value of 0.9960 fell, which previously held the stagnation (0.9960 / 1.0050), and finally the sellers returned to the market completely. It is possible to assume that the bearish attitude will continue and the quotation will decrease to the first value of 0.9850, where the periodic level is linked with Fibo 23.6.
* The presented market analysis is informative and does not constitute a guide to the transaction.
The material has been provided by InstaForex Company – www.instaforex.com
Earlier, we already discussed that the upward movement is overheated behind more than 800 points of the vertical stroke. It is where the quotation reached an important range level of 1.0050 / 1.0100, after which it slowed down the movement. As of this writing, we see how the periodic value of 0.9960 fell, which previously held the stagnation (0.9960 / 1.0050), and finally the sellers returned to the market completely. It is possible to assume that the bearish attitude will continue and the quotation will decrease to the first value of 0.9850, where the periodic level is linked with Fibo 23.6.
* The presented market analysis is informative and does not constitute a guide to the transaction.
The material has been provided by InstaForex Company – www.instaforex.com
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