USD/CHF: distribution pattern
October 20, 2023 5:26 pmVideo
Latest News
- Technical Analysis – GBPJPY close to a new 9-year high April 26, 2024
- Technical Analysis – USDCAD retreats beneath 20-day SMA April 26, 2024
- Key events on April 26: fundamental analysis for beginners April 26, 2024
- Trading plan for GBP/USD on April 26. Simple tips for beginners April 26, 2024
- Trading plan for EUR/USD on April 26. Simple tips for beginners April 26, 2024
- Technical Analysis of Intraday Price Movement of Polkadot Cryptocurrency, Friday April 26 2024. April 26, 2024
- Technical Analysis of Intraday Price Movement of Cardano Cryptocurrency, Friday April 26 2024. April 26, 2024
- Forecast for EUR/USD on April 26, 2024 April 26, 2024
- Forecast for GBP/USD on April 26, 2024 April 26, 2024
- Forecast for AUD/USD on April 26, 2024 April 26, 2024
- The ECB also has reasons to worry April 26, 2024
- The dollar: there would have been no happiness, but misfortune helped April 26, 2024
- Trading Signals for EUR/USD for April 25-27, 2024: buy above 1.0684 (21 SMA – 3/8 Murray) April 25, 2024
- Trading Signals for GOLD (XAU/USD) for April 25-27, 2024: buy above $2,324 (21 SMA – 5/8 Murray) April 25, 2024
- Analysis of GBP/USD on April 25th. The dollar suffered a local defeat to win the war April 25, 2024
- USD/JPY: Simple trading tips for novice traders on April 25th (US session) April 25, 2024
- GBP/USD: Simple trading tips for novice traders on April 25th (US session) April 25, 2024
- EUR/USD: Simple trading tips for novice traders on April 25th (US session) April 25, 2024
- GBP/USD: trading plan for the US session on April 25th (analysis of morning deals). The pound continued its recovery April 25, 2024
- EUR/USD: trading plan for the US session on April 25th (analysis of morning deals). The dollar is ready for GDP data April 25, 2024
The USD/CHF pair is moving sideways in the short term, trying to accumulate more bearish energy before extending its sell-off. The bias remains bearish, so more declines are natural. Unfortunately, the Dollar Index is trading in the red in the short term. A deeper drop should weaken the USD.
The greenback is bearish after Canadian Retail Sales reported a 0.1% drop as expected, while Core Retail Sales increased by 0.1% even if the specialists expected a 0.1% drop. The USD dropped as the figures came in worse compared to the previous reporting period.
USD/CHF Attracts More Sellers!
Technically, the rate registered a major decline between the median line (ml) and the upper median line (uml).
Now, it has taken out the historical level of 0.8931 but it has found support on the weekly S2 (0.8910).
USD/CHF Outlook!
Dropping and closing below the S2 (0.8910) activates more declines. This is seen as a bearish signal. The median line (ml) is seen as the first downside target.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: