The USDCHF breaks the uptrend and forms a retest for a possible short entry point. The currency pair is preparing for a decline
The USDCHF is now squeezed between the MA-200, which plays the role of support and MA-50, which is a resistance.
The price makes a retest to the level of 0.90291, which is the key level for further moves in either direction.
Consolidation of the price below that level will form an entry point for a possible sell-off, in which case the downside will definitely change and wait for a decline.
Strong support: 0.8980, MA-200.
Strong resistance: 0.90291, MA-50.
I expect that bears will do their job. The market will form a consolidation and start a further decline to 0.89400
Regards R. Linda!
The USDCHF is now squeezed between the MA-200, which plays the role of support and MA-50, which is a resistance.
The price makes a retest to the level of 0.90291, which is the key level for further moves in either direction.
Consolidation of the price below that level will form an entry point for a possible sell-off, in which case the downside will definitely change and wait for a decline.
Strong support: 0.8980, MA-200.
Strong resistance: 0.90291, MA-50.
I expect that bears will do their job. The market will form a consolidation and start a further decline to 0.89400
Regards R. Linda!
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NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
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🔴Contact:
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