Market Snapshots

USDCHF Wave Analysis 5 October, 2020

USDCHF Wave Analysis 5 October, 2020

• USDCHF falling inside impulse wave 3

• Likely to fall to 0.9100

USDCHF continues to fall inside the minor impulse wave 3, which started earlier from the resistance area lying between the resistance levels 0.9200 and 0.9250.

The aforementioned resistance area was strengthened by the upper daily Bollinger Band.

Given the clear daily downtrend – USDCHF is likely to fall further toward the next support level 0.9100 – the breakout of which will open the way for further losses toward the strong support level 0.9050.

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