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EUR/CHF 4H Chart: Fibonacci rebound The common European currency has recently formed a narrow ranged ascending channel pattern against the Swiss Franc on the four hour charts. The reason for the formation of the channel was a rebound against a Fibonacci retracement level. Namely, after reaching a new high level the Euro began a retreat against the Swiss Franc and eventually plummeted in the second half of September. By using that high level as the 00.00% Fibonacci level and the 2017 low level as the 100% mark, one could have predicted that the pair will rebound against the 1.1388 mark, where the 23.60% retracement is located. Meanwhile, in regards to the short term, the pair is set to approach two pivot points until it makes another attempt at the 2017 high level.
Long
by UnknownUnicorn890690
CHF/JPY 4H Chart: Reaches Long Term SupportThe previous forecast for the Swiss Franc against the Japanese Yen lasted only in the short term. On a medium scale a medium term resistance line showed enough strength for the pair to descend in a new pattern. Most recently the descending channel pattern has reached a massive scale long term support line. The line is strengthened by various levels of significance that surround them. Below it the weekly and monthly S1s are located at the 114.40 mark. Just above it, at 114.70 level, the 23.60% Fibonacci retracement level is located at. All of these levels together with two clusters of resistance at 115.00 and 115.40 are likely going to squeeze in the pair.
Long
by UnknownUnicorn890690
AUD/CHF breaks long term patternThe Australian Dollar recently marked another bounce off from the resistance of the 2017 high level against the Swiss Franc. As a result a medium scale channel pattern has formed. The descending channel managed to break through the support of the previously active large scale pattern. Most recently the Aussie made attempts to regain its losses. However, the pair failed to rebound, as the previously active patterns support acted as a resistance together with the weekly PP and the 55-period SMA just above the 0.7619 mark. Due to the combination of the minor factors it is expected that the pair will decline down to the 0.7558 level, where the weekly S1 and the 61.80% Fibonacci retracement level are located at.
Short
by UnknownUnicorn890690
CHF/JPY about to break outThe situation on the CHF/JPY currency pair is hard to understand at first glance. However, if one keeps it short, the currency rate is surging in three various ascending patterns simultaneously. Although, in accordance with the patterns the currency pair is about to experience a period of rather flat trading or a surge. The reason for that is the fact that an ascending triangle pattern has been formed during the recent weeks. The rate is either going to fall down to the 114 mark, where close by various levels of support are located at, or surge up to the 115.50 mark, where the weekly R2 is at.
Long
by UnknownUnicorn890690
USD/CHF long term long outlookRecently the US Dollar reached historical low levels against the Swiss Franc. However, after flirting with the low level below the 0.9450 mark the currency exchange rate has rebounded. The historical low levels where consistent with the massive scale descending channel pattern's lower trend line, which is a clear signal for a long term surge. The rebound is occurring in a recently mapped ascending channel pattern, which is a medium scale representation of a larger move. The larger move is a descending pattern, which is almost parallel to the most dominant pattern. Meanwhile, its trend lines are consistent with the Fibonacci retracement levels of the recent year low and high levels. In regards to the short term, the pair is most likely going to decline to the 23.60% Fibo at the 0.9650 mark and afterwards once more approach the 0.9715 mark, where the weekly R1 is located at.
Long
by UnknownUnicorn890690
3
EUR/CHF might decline until 2018This the full review of the EUR/CHF pair. Updates will be posted from time to time, as the need arises for them. The common European currency recently stopped its short term decline against the Swiss Franc, as it found support in a medium term ascending channel. However, the rate still should decline. The reason for that is the fact that the currency rate has not met the lower trend line of the most dominant pattern. It occurred due to the last recent rebound against a dominant pattern, which represents a large scale descent to the just mentioned most dominant support line. In general, the situation has to be watched, as it develops, as the rate might be stagnating due to the expectations of the ECB rate announcement.
Short
by UnknownUnicorn890690
USD/CHF - Buck loses and will looseDue to recent fundamental events the US Dollar has plummeted down to the lower trend line of a channel down pattern against the Swiss Franc. Moreover, it has fallen once more below the 2016 low level. As the move occurred due to fundamental events, market participants should still look out of a breaking of the channel down pattern. However, if a rebound occurs, it is most likely still going to be a descending one, as the rate would face the resistance of the 2016 low level and the weekly S2 at the 0.9460 mark. In that case the pair would fall as low as the 0.9368 level, where the third weekly support is located at.
Short
by UnknownUnicorn890690
CHFJPY - Pivot Point Trade-Setup Waiting for a daily candle to close above 114.893, will be looking for either (1) an engulfing candle or (2) a break and retest of structure high. Not much to it besides basic price action and pivot points. The current consolidation inside the yellow zone leads me to believe a bullish trend will commence here in the next few days. Areas of interest will be the .618~.786 fib retracement of previous structure, previous structure high, quarterly R1 pivot that was never touched, as well as the current quarterly R1 pivot.
Long
by Jroge107
1
EUR/CHF 1D Chart: Channel UpThe common European currency has reached a critical point against the Swiss Franc. The point can be best observed by drawing patterns on the weekly chart and examining them on the daily chart. It can be seen that during the last surge of the Euro against the Franc the currency exchange rate has reached the combined resistance of a two year old ascending channel pattern and a junior channel up pattern at the 1.1520 mark. Moreover, the resistance cluster is strengthened by the weekly R1. Either the pair will bounce off the resistance and decline down to the 1.1274 level, if the dominant pattern holds. On the other hand a break of the channel might occur, which would press for a full review of the pair for the purpose
by UnknownUnicorn890690
EUR/CHF Channel DownDue to the high trading volume on the Swiss Foreign Exchange Marketplace, it was decided upon doing a short review of the technical situation on the EUR/CHF currency pair. It can be observed that the pair is dominantly trading in two ascending channel patterns. The pair encountered the combined resistance of the channels at the start of August. As a result of that move a descending channel revealed itself in the following weeks. Most recently the pair encountered the resistance of the channel down pattern. That means it is likely going to bounce off it and retreat first to the 1.1370 level and afterwards to the 1.1280 mark.
Short
by UnknownUnicorn890690
2
USD/CHF 1H Chart: Channel UpUSD/CHF 1H Chart: Channel Up The American Dollar is trading against the Swiss Franc simultaneously in descending and ascending channels. The latter pattern consists of four confirmation points, where the last one represents a rebound of the exchange rate from the monthly PP at 0.9613. In the upcoming hours it will become clear, which formation is going to guide further movement of the currency pair. Most probably, strength of the older channel is going to prevail. This a assumption is on the fact that the northern passage is protected by combined resistance level set up by the 100- and 200-hour SMAs in conjunction with the weekly PP at 0.9668. Moreover, the subsequent downfall will enable the pair to finally reach the lower edge of the third, dominant channel down.
by UnknownUnicorn890690
USD/CHF 4H Chart: Channel UpRecently the US Dollar encountered a support combination of two notable levels of significance against the Swiss Franc. The support consists of the 2016 low level and the lower trend line of the dominant channel down pattern. As a result of the rebound a medium term ascending channel has formed itself. However, its lower trend line has not been fully confirmed. Although, on Friday the proposed support line of the pattern was located exactly at the monthly S1 at 0.95, which gives it some credibility. Due to these factors combined, it can be assumed that the pair will pass the support of the monthly PP at the 0.9613 level, and decline to the just mentioned combination of support at 0.95.
Short
by UnknownUnicorn890690
CHF/SGD 1H Chart: Channel UpCHF/SGD 1H Chart: Channel Up The Swiss Franc is gaining value against the Singapore Dollar in a short-term ascending channel that started to form after the currency exchange rate bounced off from the weekly S1 at 1.4007. Depending on how you draw the pattern, it will consist of two reaction highs or three reaction lows. In any case, there is a clearly seen uptrend that is backed up by the 55-, 100- and 200-hour SMA from the bottom. At the moment, the currency pair has no barriers on its way up until the weekly R1 at 1.4285. The further movement to the top is also supported by the general market sentiment, which is 74% bullish. However, if the rate will fail to climb above the 1.4240-1.4260 area this might be a sign of an existence of senior ascending channel.
by UnknownUnicorn890690
NZD/CHF 1H Chart: Channel UpNZD/CHF 1H Chart: Channel Up The New Zealand Dollar is trading against the Swiss Franc in a two day long ascending channel. Formation of the pattern represents a rebound of the currency exchange rate from the bottom trend-line of a preceding descending channel. By the moment, the channel consists of four confirmation points, which means that it has already reached maturity. Basically, the pattern might cease to exist already by the end of the day. Its vertical and narrow structure makes it very sensitive to various barriers, such as the 200-hour SMA near 0.7115. On an upcoming turn around also point out a number of technical indicators, suggesting the pair is overbought. However, if the rate manages to bypass this resistance level, it will face no other obstacles, including fundamental data releases, up until the monthly PP at 0.7172.
by UnknownUnicorn890690
GBP/CHF 1H Chart: Channel DownGBP/CHF 1H Chart: Channel Down The British Pound is losing value against the Swiss Franc in a vertical descending channel that has formed in the result of a rebound of the currency exchange rate from the upper trend-line of a preceding ascending channel. At the moment, formation of the channel is completed, as it consists of four confirmation points. Hence, if the pair manages to reach the monthly S1 at 1.2440 and the weekly S3 at 1.2429, after bouncing off from a combination of the pattern’s resistance line and the 55-hour SMA, an impulse given from this support level might be strong enough to force the rate to eventually leave the formation in the northern direction. However, even if this scenario materializes, the Sterling is still expected to continue to depreciate at least until the announcement of information on the UK CPI, Average Earnings and Retail Sales.
by UnknownUnicorn890690