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Farooq

Technical Analysis – USDCHF _ 01-03-2019

HomeTechnical AnalysisTechnical Analysis – USDCHF _ 01-03-2019
01
Mar
Technical Analysis – USDCHF _ 01-03-2019

After reaching its first target at 0.9910, the pair ended yesterday’s trading session to move back near the breached support area 0.9980 – 1.0005 which has become resistance …
The downside potential remains valid as long as trading remains below the SMA 100 on the 4 hour frame … and the pair could resume its downside move towards 0.9910 as the first target and then support 0.9840 as the second target.
A break above the 100 level with a four hour closing above 1.0035 might end the downside potential and could push the price to test the resistance at 1.0095 at least….


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