Forex Review Online
No Result
View All Result
  • Home
  • Crypto
  • Education
  • News
start trading today
  • Home
  • Crypto
  • Education
  • News
No Result
View All Result
Forex Review Online
No Result
View All Result
Home ANALYSIS

USDCHF moves to new lows. Sellers try to keep control.

A.R Chowdhury by A.R Chowdhury
August 21, 2020
Reading Time: 1 min read
0

Run to the upside yesterday seeing corrective price action today

The USDCHF is trading to new session lows and continues its correction lower after the run higher yesterday.

Run to the upside yesterday seeing corrective price action today_

The price is now trading back below its 200 hour moving average at 0.91049 and the 38.2% retracement of the move up from Tuesday low at 0.91029.  Admittedly the price earlier today move below both those levels only to bounce back toward the swing highs going back to August 12 (see red numbered circles and yellow area). However sellers leaned against that old ceiling area and the price has resumed its moved to the downside.

Going forward staying below the 200 hour moving average will be eyed now as close risk. Stay below keeps the sellers more in control. The next target would be the 50% midpoint of the move up from Tuesday’s low at 0.90851 and the 100 hour moving average at 0.90773.

Right now, the sellers are more in control but the price does need to stay below the 200 hour moving average to keep that control.

For bank trade ideas, check out eFX Plus

Source link

RELATED POSTS

EURGBP erases gains and returns to a familiar bias defining level

New highs for US stocks. The Nasdaq continues to lead

USDJPY has 3 key technical levels that have stalled the rally higher today

ShareTweetPin
A.R Chowdhury

A.R Chowdhury

Related Posts

EURGBP erases gains and returns to a familiar bias defining level
ANALYSIS

EURGBP erases gains and returns to a familiar bias defining level

August 14, 2022
New highs for US stocks. The Nasdaq continues to lead
ANALYSIS

New highs for US stocks. The Nasdaq continues to lead

August 14, 2022
USDJPY has 3 key technical levels that have stalled the rally higher today
ANALYSIS

USDJPY has 3 key technical levels that have stalled the rally higher today

August 14, 2022
WTI crude oil futures settle at $92.09
ANALYSIS

WTI crude oil futures settle at $92.09

August 14, 2022
Bitcoin technical analysis, bulls might be giving up soon
ANALYSIS

Bitcoin technical analysis, bulls might be giving up soon

August 14, 2022
The weekend forex technical report for the week of August 15, 2022
ANALYSIS

The weekend forex technical report for the week of August 15, 2022

August 14, 2022
Next Post

NZDUSD continues its run lower

WTI crude oil futures fall back below its 50% retracement

Leave a Reply Cancel reply

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

Recommended Stories

AUD/USD has really fallen apart

August 19, 2021

Nasdaq erases declines

June 15, 2020

Coinbase Invests Over $1 Million into DeFi Sites

April 2, 2020

Popular Stories

  • New highs for US stocks. The Nasdaq continues to lead

    New highs for US stocks. The Nasdaq continues to lead

    0 shares
    Share 0 Tweet 0
  • EURGBP erases gains and returns to a familiar bias defining level

    0 shares
    Share 0 Tweet 0
  • The USD is the strongest and the NZD is the weakest as the NA session begins

    0 shares
    Share 0 Tweet 0
  • What is Leverage AND Margin in Forex trading?

    0 shares
    Share 0 Tweet 0
  • What is forex and How does it work?

    0 shares
    Share 0 Tweet 0
Forex Review Online

© 2022 My Forex Review - Designed with Jnews Theme.

Navigate Site

  • Home
  • Crypto
  • Education
  • News

Follow Us

No Result
View All Result
  • Home
  • Crypto
  • Education
  • News

© 2022 My Forex Review - Designed with Jnews Theme.