Technical analysis 06.08.2019

USDCHF

The pair is recovering from the drop caused by the devaluation of yuan to USD against the backdrop of the US-China trade war. Some upwards correction of the pair is expected. But if the negative trends in investor sentiment continue, the pair will continue its decline.

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. The RSI is located above the oversold zone and indicates a halt in price growth. Stoch broke out of this zone and are actively growing.

Trading recommendations:

There is a high probability of the pair recovering to 0.9800. If the pair doesn’t pass this level, it will turn down and plummet to 0.9700 and then to 0.9640.