Market Snapshots

USDCHF Wave Analysis – 30 January, 2020

USDCHF Wave Analysis – 30 January, 2020
  • USDCHF reversed from resistance area
  • Likely to fall to 0.9670

USDCHF recently reversed down sharply from the resistance area lying between the resistance level 0.9765, upper daily Bollinger Band and the 38.2% Fibonacci correction of the earlier sharp downward impulse from November.

The downward reversal from this resistance area created the daily Japanese candlesticks reversal pattern Shooting Star.

USDCHF is likely to fall further toward the next support level 0.9670 (which stopped the earlier corrective wave (b)).

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