Categories: USD CHF Analysis

The bearish pattern of the butterfly in the USDCHF currency pair in 4 hours: 05/01/2023

In the technical analysis of the USDCHF currency pair (in the picture below), the price is expected to be in a long-term downtrend according to the daily chart’s formation of the bearish butterfly pattern. In case of breaking the level of 0.89416, the initial target is the level of 0.88615 and then 0.87766.

As you know, the butterfly pattern is one of the most popular harmonic patterns in which the possibility of error is possible due to market fluctuations. Therefore, it will be essential to pay attention to the possibility of risk management in the market when trading with these patterns.

USDCHF technical analysis 1 May 2023

Log in to the Delta FX broker to enter the forex market and earn more profit.

deltawriter

Recent Posts

Technical Analysis of GBPUSD on the 4-hour timeframe: 18/07/2023

The GBPUSD currency pair initiated an upward trend surpassing the resistance level at 1.2850, and…

4 months ago

EURUSD Technical Analysis on daily timeframe: 17/07/2023

The EURUSD currency pair has experienced a significant increase in the past 10 days, breaking…

5 months ago

Crude Oil Technical Analysis: 13/07/2023

The price of crude oil remained above the $70 level against the US dollar and…

5 months ago

Technical Analysis of EUR/USD on an hourly timeframe: 12/07/2023

In the hourly chart of EUR/USD, this currency pair initiated a fresh increase from the…

5 months ago


Technical analysis of the USD/JPY currency pair on an hourly timeframe: 11/07/2023

Due to concerns about potential intervention by the Bank of Japan (BoJ) in the market's…

5 months ago

Gold Technical Analysis on Daily Timeframe: 07/10/2023

Short-term fluctuations currently indicate an upward trend in gold's movement on the daily timeframe. If…

5 months ago

This website uses cookies.