USD/CHF Bearish Pattern at POC Zone Will Cause Fresh Selling

June 6, 2019

2 min read

Dear Traders,

The USD/CHF has made a V shaped reversal, but now it is very close to the POC zone and we might see fresh sellers coming.

0.9945-60 is the POC zone. There is a lot of resistance in the area including W L4 camarilla pivot, D H4, W L4, EMA and BB. Being the EUR/USD’s counterpart the USD/CHF will also react to ECS statement later. At 11:45 GMT time, the ECS will issue the Monetary Policy Statement. It contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision. It will make volatility in the EUR/USD and USD/CHF. Bearish rejection targets 0.9925 and 0.9900. A drop below 0.9900 will aim for 0.9853. As long as 0.9990 holds the pair is bearish.

The analysis has been done with the CAMMACD.MTF template.
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