Categories: Technical analysis

USDCHF Wave Analysis 4 February, 2021

• USDCHF rising inside impulse wave (c)

• Likely to reach resistance level 0.9100

USDCHF continues to rise inside the sharp impulse wave (c) – which previously broke the resistance area located between the key resistance level 0.8920 (which has been reversing the price from last month) and the 38.2% Fibonacci correction of the downward impulse from November.

The active impulse wave (c) belongs to the medium-term ABC correction 2 from the start of January .

USDCHF is expected to rise further toward the next resistance level 0.9100 (forecast price for the completion of the active ABC correction 2).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Share
Published by
The FxPro Tech Analysis Team
Tags: USDCHF

Recent Posts

Hang Seng meltdown

The Hang Seng Index has fallen 20% from its peak, marking the start of a…

2 hours ago

SP500 quiet correction

The S&P500 reached the 6000 mark but faced resistance due to fatigue and dollar appreciation.…

2 hours ago

The third day of Crypto cooling off

The crypto market has continued to cool down for the third day, with a 1.7%…

4 hours ago

GBPUSD Wave Analysis 14 November 2024

- GBPUSD reversed from strong support level 1.2665 - Likely to rise to resistance level…

19 hours ago

USDCAD Wave Analysis 14 November 2024

- USDCAD broke resistance level 1.3950 - Likely to rise to resistance level 1.4050 USDCAD…

19 hours ago

The dollar has reached range limits

The US dollar has strengthened, reaching the upper boundary of its trading range. The British…

21 hours ago

This website uses cookies