USD/CHF Looming Bearish Sentiment

2 min read
Davinwu

Davinwu

Forex broker

Dear Traders,

The USDCHF is facing resistance from historical cluster order blocks in the 1.0044-54 area as well as at 1.0070 key level.

The pair is currently facing a T-89 rejection from the EMA89. This is a well respected rejection due to the bullish candle not being able to close higher despite making newer highs, and the bearish candle closing as a hammer pattern with it’s high just at the EMA, hence the strong bearish sentiment.

The POC zone is 1.0054-64 where we should look for a potential rejection, with T-89 in confluence with D H4, 4/8 and the ATR projection high. Targets are 1.0009 Ultimate Resistance Zone and 0.9945 [-1/8 // D L3 // W L3] with extended target targeting 0.9954 W L4

Price should not close above 1.0080.

The analysis has been done with the
CAMMACD.MTF template.
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Many green pips,
Davin Wu aka AmbitionFX
Elite CurrenSea

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