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GBP-CHF

GBP/CHF (Daily Chart) - Bears Coming Back In?This pair has been on a long-term downtrend since 2000, which means that long-term position traders will generally be looking for large pullbacks as a shorting opportunity. After an attempt to push prices up, the move has has failed at the neckline, currently forming a double top which may be the start of a swing downwards. The recent large bearish candle could be a good trigger to take a short position, with a stop above the candle.
Short
by SynapseTrading
1
EURUSD immediate potential could be 1.1620The EURUSD pair hourly chart might be indicating that bulls could be targeting 1.1620 resistance as immediate shot term target. Looking at the medium term wave count, we still favor a potential flat structure to unfold, which could push prices at least towards 1.1830 levels if not further. Please note that Wave C, which began from 1.1302 levels last week could push all the way through 1.2000/2100 levels as well. We shall take the case as each cycle unfolds. Keeping the short term target in view, it remains a safe strategy to hold long positions for now with potential risk below 1.1300 levels. Ideally prices should stay above 1.1350/60 levels going ahead. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
Long
by FXTM
1
GBP/CHF eyes 55-EMA, break below to accentuate downsideGBP/CHF is extending gradual grind lower along 5-DMA which is sharply lower. We see strong support at 1.2867 (nearly converged 55-EMA and cloud top). Break below will accentuate weakness. Technical studies support downside in the pair. price action was rejected at 200-DMA. RSI and Stochs are biased lower and we see bearish divergence on Stochs along with a bearish MACD line crossover on signal line which adds to the bearish bias. Risks skewed to the downside for the pound. Premature hopes on Brexit headlines once more gave way to discouragement. The European Union offer fell far short of PM May's current demands. Support levels - 1.2866 (nearly converged cloud top and 55-EMA), 1.2748 (Lower BB), 1.2635 (trendline) Resistance levels - 1.2944 (5-DMA), 1.3114 (200-DMA) Good to go short on upticks around 1.2910, SL: 1.30, TP: 1.2870/ 1.2750/ 1.27
Short
by FxWirePro
Gold may retrace lower to $1215/20 ?Gold seems to have made an interim top at $1240 levels, just shy from our projection at $1250/70 levels. It is quite possible that the yellow metal may produce a corrective drop towards the $1215/1220 zone, before rallying further. Please also note that 50% retracement of the rally between $1182 and $1240 levels is seen at $1211 and that could be the next potential support for pushing higher through $1250/70 levels. Another possibility could be that A-B-C corrective rally could be over from $1160 through $1240 levels and that a major corrective could be on its way. For now, we maintain our neutral bias. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
FX_IDC:XAUUSD
by FXTM
US Dollar Index: 96.16 remains critical for bears to stay!The US Dollar Index has been attempting a break above 96.16 levels and it could be vulnerable towards the same. At this point in time, we remain cautiously optimistic for a bearish resumption since 96.16 levels remain intact. If bears could manage to hold 96.16 levels going forward, we could witness a iii of 3rd wave lower, within the proposed 5 waves of Wave C towards at least 93.80. On the flip side, a break above 96.16 could suggest that the US Dollar Index could run up to 96.50/60 levels before facing resistance and delay the proposed drop for now. Overall, 96.16 remain the line in sand for bears to remain in control. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
TVC:DXYShort
by FXTM
GBPCHF approaching resistance, potential drop! GBPCHF is approaching our first resistance at 1.2954 (Horizontal pullback resistance, 23.6% fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 1.2819 (100% fibonacci extension). RSI (89) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
Short
by Tickmill
EURUSD reverses just a pip shy from 1.1434 !EURUSD keeps the structure intact, with prices reversing from just a pip away at 1.1433/34 levels on Friday, moving over a 100 pips through 1.1535 levels. During the short term bull run, it has also taken out initial resistance at 1.1527 levels. With EURUSD trading at 1.1512 levels at this point in time, one could expect a corrective drop, possibly a lower degree wave ii, before the rally resumes. Please note that bulls would remain in control, till prices stay above 1.1432 levels and the medium term wave structure remains bullish with potential towards 1.1850 levels at least. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
Long
by FXTM
GBPCHF approaching support, potential bounce!GBPCHF is approaching our first support at 1.2942 (horizontal swing low support, 23.6% Fibonacci retracement, 61.8% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 1.3090 (horizontal swing high resistance, 100% Fibonacci extension, 78.6% Fibonacci retracement). RSI (89) is also bouncing off support and we might see a corresponding rise in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by easyMarkets
6
Gold bulls in control. Expect a corrective drop to $1210/12In line with our discussions yesterday, Gold produced a rally with prices exceeding $1230 levels yesterday, before the pullback. Looking at the wave structure, it remain quite clear that Wave C is into progress towards $1250/70 levels, within the A-B-C corrective rally that began from $1160 levels earlier. If we dig further, a lower degree impulse wave that began from $1281.50 levels earlier, looks to be complete around $1230/32 levels. Keeping this in mind, please do not be surprised to see a corrective drop which could begin from $1232/37 levels, towards $1212 levels or lower. Ideally any correction from here should remain well capped above $1181.50 levels going forward. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
FX_IDC:XAUUSDLong
by FXTM
4