Technical outlook:
USDCHF bearish scenario:
In this pair we have technical figure Descending Triangle. The Descending Triangle has broken through the support line at 03/12/2020. Forming a bearish formation on a daily chart. If price holds below this level we will have possible bearish price movement with forecast for the next 26 days with target 0.88000. Our stop loss order should be placed at 0.91920 if we decide to enter this position.
Fundamentals:
- USD/CHF printed fresh cycle lows, but bears may not be done yet.
- US dollars are out of favour in the market in anticipation of major and imminent vaccine distribution.
USDCHF bearish scenario:
In this pair we have technical figure Descending Triangle. The Descending Triangle has broken through the support line at 03/12/2020. Forming a bearish formation on a daily chart. If price holds below this level we will have possible bearish price movement with forecast for the next 26 days with target 0.88000. Our stop loss order should be placed at 0.91920 if we decide to enter this position.
Fundamentals:
- USD/CHF printed fresh cycle lows, but bears may not be done yet.
- US dollars are out of favour in the market in anticipation of major and imminent vaccine distribution.