New lows for USDCHF. Head and shoulder break?

Technical Analysis

Tests 100 bar MA on 4-hour chart

The USDCHF is making new session lows, and in the process, is breaking below a head and shoulders neckline at 0.9846. 

The pairs is testing the 100 bar moving average on the 4 hour chart at 0.98384 and swing lows from July 2 and July 3 and 0.9834-357.  Moving below each should solicit more selling.  

Sellers are making more of a play and taknig more control.  There is potential for follow-through selling on the back of the head and shoulders neckline break.  Be aware.  

ForexLive

Products You May Like

Articles You May Like

USD Flat as Inflation Rises Slightly
Analyst recommends that in the case of an imminent currency war, buy gold
Oil Higher on Weather Related Supply Disruptions
Kiwi, Aussie Hit New Highs – 15 July 2019
OANDA Market Insights podcast (episode 73)

Leave a Reply

Your email address will not be published. Required fields are marked *