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Technical Analysis – USDCHF _ 05-03-2019

HomeTechnical AnalysisTechnical Analysis – USDCHF _ 05-03-2019
05
Mar
Technical Analysis – USDCHF _ 05-03-2019

Trades continue to fluctuate within the resistance zone 0.9980 – 1.0005, which is supported by the 50 and 100 moving averages on the 4 hour frame which is trying to pressure the price. However, breaking the latest bearish trend and the positive cross of Stochastic near the oversold area may signal further upside … So it is better to stay neutral until the price is cleared from the area specified on the chart to confirm its direction …
A breach of resistance 1.0025-30 may push the pair to test the resistance at 1.0095 at least … A return to stability below 0.9975 might return the pair to its downside targeting 0.9910 as the first target and then support 0.9840 as the second target.

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