Categories: Technical analysis

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.

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.

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Tags: USDCHF

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