Forex

The USDCHF draws negative formation – Analysis - 20-01-2021

2021-01-20 04:51:23 GMT (Economies.com)

The USDCHF pair could not manage to breach 0.8923 level, to rebound bearishly and approaches the key support 0.8860, to witness signs of double top pattern that we believe it will push the price to resume the main bearish trend again, noting that breaking the mentioned support will confirm the continuation of the decline towards 0.8760 areas on the near term basis.

 

Therefore, we expect witnessing negative trades in the upcoming sessions unless the price managed to breach 0.8923 and hold above it.

 

The expected trading range for today is between 0.8800 support and 0.8925 resistance.

 

The expected trend for today: Bearish

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