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    Baxia Markets
    By
    August 05, 2021

    Will USDCHF go up?

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    The downward trend had lasted thirteen days on USDCHF. It looked like a solid and stable trend; however, the price met resistance on Aug 4th, which was also a turning point. We can see the Bollinger Bands shrunk on Aug 3rd and the price line touched the lower Bollinger Band twice. The Bollinger Bands started to expand, which means the price line is now ready for a breakout.

     

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    The Standard deviation goes up mildly; the fluctuation of the price is getting more significant. At the same time, the MACD made a bullish cross and is now approaching the zero line. After a long time of negative movement, the MACD is now about to break out the zero line. The Bulls' power has already moved above the zero level and is making some waves. But do not worry about those waves; this is regular for the Bulls’ power. Now, the SAR Parabolic makes a new upward trend, which is steep. Now I have more confidence with the price of USDCHF.

     

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