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Swissfranc

USDCHF WEEKLY SHORT Strong Down Trend Leg On Weekly Leg1 Start Price: 0.98491 (open) Date: March 23rd 2020 End Price: 0.89027 (close) Date: Jan 04th 2021 Leg 2 (Entry Sell) Entry: 0.93386 Stop Loss: 0.94602 Date: 17th March 2022. Take Profits: Price has been stuck in a sideways range since 22nd Feb 2021. This is a weak pullback in based on structure and price action. Price Action stated that strong trends usually take the form of TWO with trend legs. WAIT to enter on a Low 1 entry on the 4HR TF (@0.93386). Take Profit Calculation: Fib Retracements Fib Extension of previous weekly Swing High: (March 4th - 16th) Target 1 = 0.8999 (R;R = 2.98) Target 2 = 0.87418 (R:R = 5.49) Fundamentals Backdrop Short USD ~ High Inflation ~ Debt from Stimulus and Ukraine Aid ~ Swiss Frank is risk off currency ~ Swedish Central Bank is keeping interest rates at current levels which is Less hawkish than US Fed Quantitative Tightening Fiscal Policy. Cheers! First Trade Post Ever! :)
Short
by hgidharry
3
EURCHF turning bullish for the rest of the year.This is the EURCHF pair on the 1W time-frame. In the past two weeks, the pair has posted a strong rally, recovering almost all of the late February's losses. The last time that the pair has had a similar two-week rally after contact with the Lower Lows trend-line (bottom) of the Channel Down, was in May 2020. That kickstarted a +1 year (gradual) rise that topped on the Lower Highs trend-line of the Channel and in fact got rejected on the 1W MA200 (orange trend-line). As a result, our plan on EURCHF is to buy every pull-back for the remainder of 2022, with an initial target the 1W MA50 (blue trend-line) and then the 1W MA200 in extension. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
Long
by TradingShot