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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
GBP/CHF 1H Chart: PennantGBP/CHF 1H Chart: Pennant The British Pound is trading against the Swiss Franc in a short-term pennant formation. The pattern represents the aftereffect of announcement of the UK Official Bank Rate and the subsequent Governor Carney’s speech last week. By the early morning, the currency exchange rate has practically reached the breakout point from the little symmetrical triangle, which represents the pennant. Despite the pressure exercised by the 200-hour SMA from the bottom, the pair is still expected to slide downwards. The overall length of the flag pole should be equal to 50-70 basis points, which basically coincides with the nearest combined support level set up by the weekly S1 at 1.2619 and the monthly PP at 1.2614. After this continuation pattern ceases to exist, the rate most likely is going to make a rebound and the Sterling will start to restore lost positions.
by UnknownUnicorn890690
USD/CHF 4H Chart: Channel UpThe US Dollar is regaining ground against the Swiss Franc in a channel up pattern. Most recently the currency pair bounced off the resistance of the ascending channel. That event was also the cause of the discovery of the pattern. Most likely the currency exchange rate will decline until it meets with the lower trend line of the ascending channel. Coincidentally that might occur at the 23.60% Fibonacci retracement level of the 2016 low and 2017 high levels at the 0.9657 level. Afterwards the currency pair is highly likely going to continue the surge. In that case it will go upwards to the strong resistance cluster, which lasts from 0.9780 to 0.9791.
Long
by UnknownUnicorn890690
CAD/CHF 4H Chart: Channel UpCAD/CHF 4H Chart: Channel Up The Canadian Dollar is appreciating against the Swiss Franc in the medium-term ascending channel. The pattern started to form shortly after the currency exchange rate left a descending triangle pattern and started to move in a new uptrend. For the moment, the channel is made from four confirmation points, which means that it has fully formed. But the fact that this formation took almost a month suggests that the upcoming dissolution might also take several weeks. In the short-run, the pair is expected to bounce off from a combined support level set up by the 55-hour SMA, the lower trend-line and the 100-hour SMA. t should be noted that both technical indicators have been moving along the pattern’s bottom edge and more than once forced the Loonie to make a rebound.
by UnknownUnicorn890690
AUDCHF Preparing To Drop (2 Year Ascending Wedge)Price has broken out of a 2 year ascending wedge to the downside and is now pulling back to retest the bottom of the pattern before it continues its drop. We bounced off of the monthly .5 fib level last week which formed a fantastic outside reversal candle, taking out the previous weeks low and then closing above its high to finish the week. This aligns with the giant 6 year ascending wedge on the USDCHF 0.16% (easy to spot on the monthly line chart) Opportunity -I'm watching for a nice high at the 50 day moving average/fib/bottom of wedge to then short down to the yearly .5/.618 fib area between .673~ and .648~ I'll post specific targets and entry data if/when some nice techs form... Checkout my website @ PatsTrades (link is on my profile page below my picture) for my analysis on other trades like this and subscribe to avoid missing out on ideas and entries. Thanks!!
Short
by patrick186