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https://www.mql5.com/en/signals/250354

The USDCHF pair showed positive trading yesterday to test the EMA50, which continues to form strong resistance barrier against the price positive attempts, which keeps the bearish trend scenario valid until now, reinforced by stochastic reach to the overbought areas thresholds now.

The price needs to break 0.9525 followed by 0.9474 levels to confirm opening the way to head towards 0.9243 that represents the next main target of the current bearish wave, taking into consideration that breaching 0.9580 followed by 0.9676 levels will turn the intraday and short term track to the upside.

Expected trading range for today is between 0.9450 support and 0.9620 resistance.

Expected trend for today: Bearish

The EURUSD pair failed to confirm breaching 1.1420 yesterday too, to rebound bearishly and settles around the EMA50, noticing that stochastic enters the oversold areas to offer positive factor that we are waiting to motivate the price to resume the positive attempts again.

Therefore, we will keep our bullish overview for the upcoming period unless breaking 1.1264 followed by 1.1195 levels and holding below them, reminding you with our main targets that begin at 1.1494 and extend to reach 1.1700 on the near term basis.

Expected trading range for today is between 1.1300 support and 1.1500 resistance.

Expected trend for today: Bullish

USDCHF kept moving in sideways trading below 0.9600, while noting the Stochastic has lost its positive momentum gradually as it nears overbought levels, while the SMA50 keeps up the negative pressures in the intraday levels and short term trading.

Therefore we reaffirm the negative outlook for the pair, with a next main target at 0.9474, provided the pair remain held under the level of 0.9676.

Expected trading range for today is between 0.9450 support and 0.9600 resistance.

Expected trend for today: Bearish

EURUSD failed to confirm the breach of 1.1420 yesterday, retesting the SMA50, which keeps alive the positive scenario, while the Stochastic hovers at oversold levels, underpinning chances of a upside bounce, resuming the upward trend.

Therefore we reaffirm our positive outlook for the pair, provided it hold on above 1.1264, with main targets that begin at 1.1494 and extend to 1.1650.

Expected trading range for today is between 1.1300 support and 1.1520 resistance.

Expected trend for today: Bullish

Although the USDCHF pair has formed a long lower shadow started from areas just above 88.6% Fibonacci at 0.9565, but the pair has achieved a convenient daily closing for bears below 76.4% level at 0.9670.

The fluctuation may continue over intraday basis due to RSI approaching the value of 30.00, but we remain bearish; noting that, today is very important for traders as it represents the monthly and quarterly closings.

Finally, a break below 0.9600 will weaken 0.9565 regions.

Support: 0.9600-0.9550-0.9500

Resistance: 0.9690-0.9720-0.9765

Direction: Bearish

The EURUSD has been trapped within a narrow range below the bearish trend line and above 1.1295.

Trading steadily above 1.1220 is positive, while 1.1295 is the key for intraday bulls.

ADX is also positive, while moving averages continue to carry the movements from the underside.

A four-hour closing above 1.1345 will affirm and accelerate the bullish wave.

Support: : 1.1295 – 1.1260 – 1.1220

Resistance: 1.1345 –1.1400 – 1.1465

Direction: Bullish

The bearishness has been accelerated with a break below 76.4% Fibonacci level at 0.9670, while clearing 0.9720 has weakened this Fibonacci support, which becomes resistance.

RSI14 and ADX are definitely in a bearish mode and therefore, we remain bearish on the pair, targeting 0.9565 followed by 0.9500 psychological

Support: 0.9600-0.9550-0.9500

Resistance: 0.9690-0.9720-0.9765

Direction: Bearish

EURO approaches the key resistance levels of 1.1325, which is close to 1.1341 highs along with increase in bullish signals strength.

ADX suggests a break above 1.1341, targeting 1.1400 and may be 1.1465.

A break above 1.1340 will affirm this bullishness, while failure will cause huge fluctuation and a break below 1.1220 will negate.

Support: : 1.1295 – 1.1260 – 1.1220

Resistance: 1.1325 –1.1400 – 1.1465

Direction: Bullish

The USDCHF pair broke the minor bullish channel’s support that appears on image, which forms bearish continuation flag pattern that we are waiting to motivate the price to resume the bearish bias in the upcoming period, and the next target is testing the key support 0.9676.

Therefore, we will continue to suggest the bearish bias on the intraday and short term basis, and breaking 0.9676 level will confirm extending the bearish wave towards 0.9474, while the negative scenario will remain valid unless breaching 0.9800 level and holding above it.

Expected trading range for today is between 0.9650 support and 0.9800 resistance.

Expected trend for today: Bearish

The EURUSD pair closed yesterday above the EMA50, to get support base that we wait to lean on it then resume the bullish bias in the upcoming period, pointing that stochastic current negativity might cause temporary sideways fluctuation before rising again.

In general, we keep preferring the bullish trend on the intraday and short- term basis unless breaking 1.1120 level and holding below it, the price needs to breach 1.1264 level to confirm opening the way towards 1.1494 as a next main target.

Expected trading range for today is between 1.1100 support and 1.1300 resistance.

Expected trend for today: Bullish