USDCHF analysis 04.08.2020

USDCHF analysis 04.08.2020

The overall trend is downward. The currency pair is trading in the range of 365 and 135 moving averages. A breakout of the support level 0.9165 will result in the formation of a 1-2-3 descending pattern. Stochastic Oscillator showed an exit from the overbought zone.

Trading recommendations:

Sell below 0.9165.

Stop Loss: 0.9242.

Target levels: 0.9117; 0.9059.