
After reaching $60, WTI oil has taken a new pattern - still an uptrend, though. When will it make the next step?
Don’t waste your time – keep track of how NFP affects the US dollar!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
Information is not investment advice
You’ve probably been thinking “What’s happening to USD/CHF”, right? Well, trading at 0.88, this pair is at the six-year lows. The interesting thing is that during 2020, USD/CHF dropped from above 1.00 to this level – that’s the amplitude of this currency’s trade during all these years, and it went from the multiyear resistance to the multiyear support just in 12 months. Now, if it drops the same distance downwards in the next year, that will bring it to 0.78 – as low as ever in the last 20 years, with only 2011 being the only time when it plunged that deep.
How to trade that? Technically, there is little evidence to suggest that the trend will stop any soon. The only thing to note is that the last ten days present a nice equilateral downward channel – that may be useful if you want to do scalping and see the currency pair bounce from one side to another. Fundamentally, watch precisely 0.8800 – that’s a psychological level, a key threshold. If there is a spot where the downtrend may stop – or reverse – it probably will be there around 0.8800. Once and if you see the currency pair approach that level, look for reversal signs – bulls may take over. Otherwise, generally, a continuation of this downward trajectory is to be taken as a primary scenario.
After reaching $60, WTI oil has taken a new pattern - still an uptrend, though. When will it make the next step?
Ichimoku Kinko Hyo CAD/JPY: The pair is trading above the cloud…
Ichimoku Kinko Hyo EUR/JPY: The pair is trading above the cloud…
After reaching $60, WTI oil has taken a new pattern - still an uptrend, though. When will it make the next step?
NVIDIA is set to release its earnings results after the closing bell on February 24. What to expect?
Ichimoku Kinko Hyo CAD/JPY: The pair is trading above the cloud…
Your request is accepted.
We will call you at the time interval that you chose
Next callback request for this phone number will be available in 00:30:00
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later