CurrenciesCurrencies ForecastForecastsForming Harmonic PatternsHarmonic Butterfly PatternTechnical AnalysisUSDCHF ForecastUSDCHF Technical Analysis
USDCHF Forecast and Technical Overview
USDCHF Forecast and Technical Overview
Better than expected PMIs and Job Report from the US accelerated the USD recovery.
Indicators:
Cycle Sniper H4: Although CS smaller period is about the send a retracement signal, no clear sign on bigger periods and deviation.
Price Action Sniper H4: No retracement signal.
Demark’s Indicator H4: No reversal signal yet.
Moving Averages and Murrey Math Lines: ( H4 Time Frame )
Price closed above EMA50 and SMA100. The pair tested SMA200 and MM 4/8 at 0.91500 but rejected.
Intraday support is 0.90900 ( MM 2/8 H4 ).
It is likely to test 0.92160 MM 6/8 if it holds above 0.90900.
As seen on the harmonic screen, a bearish butterfly pattern is being printed and this pattern can be used as a selling opportunity.
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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money
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