USDCHF, Daily
In the Daily Timeframe, USDCHF started a correction after a long-term bullish trend. The price fell to MA200 and 38.2 Fibonacci support. Although the %R indicates oversold, bearish sentiment remains strong.
- If the bears push the price below 0.8880 support and MA200, it would fall to 0.8780;
- A rebound from support will bring USDCHF back to 0.9010 resistance;
Conclusion
In conclusion, trading CFDs carries inherent risks. Success in this field demands effective risk management. To minimize costly errors and capitalize on trading opportunities, it's crucial to conduct thorough due diligence and manage risks diligently.
