PRESS RELEASE: USDCHF Is Trending Downwards and This May continue

PRESS RELEASE: USDCHF Is Trending Downwards and This May continue
May 15, 2019
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USDCHF Price Analysis – May 14

Continuation of the increased bearish trend may push the USDCHF price to $0.99 level. Should the price carry out retest to the $1.01 and the Bulls were able to break up the level, the trend may reverse.

USDCHF Market

Key Levels:

Supply levels: $1.01, $1.03, $1.05

Demand levels: $1.00, $0.99, $0.98

USDCHF Long-term trend: Bearish

USDCHF is bearish on the long-term outlook. Shortly after the breakup of the $1.01 level, the currency pair started consolidating above the level throughout last week. Increased in the pressure of the Bears liberated the pair from the consolidation zone. On May 09 to May 13, strong bearish daily candles were emerged that broke down the $1.01 former demand level and the price has touched the $1.00 demand level and the price pulled back.

USDCHF daily chart, may 14

USDCHF has crossed the two EMAs; the price is trading below 21 periods EMA and 50 periods EMA while the 21 EMA is making an attempt to cross the 50 periods EMA downside to confirm the bearish trend.

The Stochastic Oscillator period 14 is at 25 levels and its signal lines bending down to connote sell signal. Continuation of the increased bearish trend may push the USDCHF price to $0.99 level. Should the price carry out retest to the $1.01 and the Bulls were able to break up the level, the trend may reverse.

USDCHF Short-term Trend: Bearish

USDCHF is bearish in the short-term outlook. USDCHF experienced a consolidation mode that lasted for more than two weeks. On May 09, the Bears prevailed and a strong bearish candle emerged that rolled down the price, broke down the $1.01 level and pushed the price to $1.00 level. The price is currently pulling back towards $1.01 level.

USDCHF 4-hour chart May 14

The stochastic Oscillator period 14 is at 25 levels and the signal lines pointing up to indicate a buy signal.

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