USDCHF Forex Analysis for May 27th 2019
With a good momentum, the price of USDCHF Spot Forex pair is moving down. Price action is stepping down and Forex traders could easily notice that price action is printing lower swing highs and lower swing lows. Key resistance level is present at 1.0041 price level, based on most recent swing high in 15 minutes time frame of USDCHF.
On Friday in Swiss Franc, there was no important news event declaration. Technically; bearish prices could easily move USDCHF towards next support target at 1.0000, round number. With reference to the strong bearish trend, traders should consider only sell trades and no trade against bearish momentum of USDCHF. However; a clear bullish break out in price action above 1.0041 vital resistance area will end the down momentum. In such type of Forex trading market situation, avoid buying and selling USDCHF and just keep re-analyzing the price movement.
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