Franc
USDCHF chart updateOur long is doing great. I hope we will reach top of our mid-term channel soon.
As you can see on this chart, we are at the top of our short-term channel, so I guess market will go little bit down. If it will reach short-term channel bottom it will be great opportunity to build bigger long position.
This chart is related to my previous analysis. Click below image to check it:
Lets try long if price will reject SMA 100 or SMA 20As you can see, SMA20 was quite good support and resistance at short-term trends, so if our chart wont cross SMA20, I will try to open long position.
My game plan is to keep L to channel top. I don't like to loose money, so I will quit trade if candle will close below SMA20, and then I will look for other opportunity - maybe I will buy again above SMA20 and SMA100 and keep my previous plan.
When price will reach the target, I will look for opportunity to open short position.
CHF/JPY Bounces off strong resistanceThe Swiss Franc is a safe haven currency, where funds flock to, if there is an increase in risk in the markets. The Japanese Yen also is a safe haven currency. However, if one puts them one against another, one can not just speculate technically, but also avoid some of the fluctuations to and from risky and conservative assets.
Regarding the technical picture, the rate recently bounced off a massive resistance cluster near the 111.50 level and began a decline. During the decline the pair once more confirmed the existence of a long term channel down pattern.
Moreover, recently the rate failed to regain its losses, as it failed to pass the 111.00 mark, where the weekly S1 is located at.
EUR/CHF LONG!EUR/CHF
I've been looking at this pair all day, and I'm glad to see that it's going in my favour.
Guy's it's not too late to jump in, if you managed to jump in on the break of the bearish trend line well done!
If you didn't now's not too late however manage your risk!
TP: 1.17000/1.18000/
AUD/CHF 4H Chart: Fibonacci retracements dictateIn an effort to offer a breathe from the US Dollars surge, Dukascopy analysts took a look at the AUD/CHF currency pair.
In general the rate is highly volatile and there are no large or small scale trend lines to be drawn. Instead the currency pair is bouncing between large scale Fibonacci retracement levels.
Meanwhile, in the past month the Aussie has been making lower lows, as it has failed to pierce the 38.20% Fibo at 0.74 mark. That fact combined with the recent lower high levels has provided the opportunity to draw a speculative medium term channel down pattern.
If the rate passes the 0.73 mark, the next notable support should be only near 0.7250.
EURCHF 4H Chart: Likely breakoutThe common European currency has been trading in an ascending channel against the Swiss Franc after it hit the lower boundary of an eight-month dominant channel.
During the past few weeks, the pair has formed a new junior pattern. A breakout is likely to occur through the upper boundary of a triangle within the following trading session.
Technical indicators are in favour of bears to continue their dominance over the currency exchange rate.
USDCHF 4H Chart: Set for breakoutThe US Dollar has been bound in several long and short-term patterns which have guided the price lower since October 2017.
The currency pair is likely to continue falling within the following trading sessions in line with the medium-term pattern. The pair is currently trading near the border of the junior channel and could breach the upper boundary in the short term.
If and when this situation happens, the rate would encounter a resistance cluster set by the combination of the 200-hour simple moving average and the weekly R1 near 0.9428. Traders should look for opportunities to trade either direction if the aforementioned scenario occurs.
GBPCHF4H Chart: Full review The Pound Sterling has been constrained by a descending channel against the Swiss Franc after hitting the weekly pivot point near 1.3515. The upper boundary of a junior channel was reached on January 25.
The Sterling's inability to make a new wave up suggests that it might breach the dominant channel in the next few hours.
Technical indicators flash bearish signals during the following trading sessions; therefore, the currency exchange rate is likely to decline further until it finds support at the monthly and weekly PPs near the 1.2888 mark.
GBP/CHF 4H Chart: Bearish market The British Pound has been depreciating in a channel down against the Swiss Franc after it touched the upper boundary of a dominant channel on January 22.
Meanwhile, a breakout occurred through the lower boundary of a triangle pattern as can be observed on the chart.
During the following trading sessions, the GBP/CHF pair is likely to continue its bearish path until it meet a support cluster of the weekly and monthly pivot points near the 1.2888 mark. In addition, technical indicators are all giving signal to sell the pair.
GBP/CHF 4H Chart: At crossroadsThe Pound has recently decline against the Swiss Franc due to not being able to pass the resistance of a medium scale ascending pattern. However, it was already expected that the pattern will be broken.
Instead the currency exchange rate has begun a decline to a support cluster near lower trend line of the most dominant ascending pattern. That indicates that the pair should surge and break the resistance of the short term and medium term patterns.
Although, in regards to the short term the situation has become unclear, as the short term pattern’s resistance has stopped the recent rebound.
EUR/CHF 4H Chart: Breakout channelDuring a long period of time the large scale triangle pattern on the EUR/CHF was the main point of attention. However, as it has been already reviewed, the pair broke out to the upside.
Meanwhile, the aftermath of the break out has resulted in a medium scale channel up pattern taking the lead. Moreover, the currency exchange rate recently bounced off a strong support cluster, where the lower trend line of the just mentioned pattern made the final push.
In regards to the near future, the currency pair is set to hit the combined resistance of the weekly and monthly R1s at the 1.1780 mark.
EUR/CHF 4H Chart: Encounters unclear resistanceThe common European currency is still being supported by a medium term trend line against the Swiss Franc. However, recently there have been new developments.
The pair seems to be being held back by the resistance of the 1.1720 mark. Although, no clearly visible explanation for the existence of the resistance can be seen.
Most recently the pair found support in the combination of the weekly PP and the 55-period SMA at the 1.1660 mark. Due to that reason another approach of the before mentioned resistance is about to occur.
CHF/JPY 1D Chart: About to be squeezed inThe two top risk off currencies have reached a critical level on the daily chart one against another. The pair recently bounced off the lower trend line a dominant pattern and moved to the resistance of a junior channel down.
The resistance is strengthened by various additional resistance levels near the 114.50 mark. Due to that reason a decline down in the future can be expected. However, downwards there are set to be various support levels before the pair reaches it eventual target near the 113.35 level.
At that level the dominant patterns support line is located with other weekly and monthly support levels.
UsdChf - Weak Usd Points To Further DeclinesLast week price broke below key support at 0.98599. With this failure of support and a weak USD, a pullback and retest of broken support turning resistance at 0.98599 would provide an opportunity to look for shorts, down towards the next two key areas of support to the downside at 0.97622 and 0.96480 respectively.
UsdChf - Bounce At Key SupportLast week price continued to correct into the key area of support at 0.98599. As we go into next week with this support area holding the preference is for further advances up towards the next key areas of resistance at 1.00774 and 1.01653. Some strength in the USD Index will be needed to make this pair rally however.
UsdChf - Correction But Uptrend IntactAfter a low volatility week price continued to correct, however, the overall Bull trend remains intact. Next week we look for further advances, with a pullback to key support at 0.98783 providing a great place to look for long set ups towards the targets to the upside at 1.00774 and 1.01653 respectively.
GbpChf - Bear FlagLast week the GBPCHF sold off due to Bank of England data and we look for further declines as a possibility this week. Price is in the process of forming a Bear flag with a further correction, potentially to broken support turning resistance at 1.31809, providing a great place to look for Bearish patterns for shorts down to the targets of 1.29883 and 1.28748 respectively.