USD/CHF Looking Bearish Today

Doug Rosen

By: Doug Rosen

The USD has been extremely strong for well over a month now. This pair has been bullish. Looking at the weekly chart I still see bullishness, but I also see that price is a ways from the 5 ema and needs to reconnect with it before it can continue to the upside. Price is currently 160 pips above the 5 so we can be in for a decent fall before price continues up. Also keep in mind that price is currently in a fib zone between the 38.2 and 50.0 Fib levels of the recent move down. Also bare in mind the stochastics is in the overbought zone. Zooming into the daily hart it does appear that the 5 ema is flattening a bit and price just may be rolling over to the downside. Next stop the 13 ema at 0.9135.



Zooming into the 4 hour chart I see that the 5 ema is also rolling over to the downside backing up the daily chart.



On the hourly chart the 5 ema has already crossed below the 13 and 21 ema's as well as the stochastics crossing down. Realistically it looks to me like price can fall down to the 0.9140 area. So, based on today's analysis I see a weak USD and a strong GBP. At this time based on my analysis, until proven otherwise, I will be looking to sell USD against EUR and definitely GBP.


Doug Rosen
Doug Rosen is a Florida-based Forex trader who became a skilled technical trader through 3 years of intense practice and self-teaching. He now coaches a live trading room and analyzes the market on forextradeplans.com.

Did you like what you read? Let us know what you think!

exclamation mark

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate will also be removed.

0 User comments

exclamation mark

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate will also be removed.

Read more
Add new comment
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.