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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
USDCHF Rejected at the top of its Channel Up.The USDCHF pair has been trading within a Channel Up since June 16 2021. This week it hit and so far got rejected on the Higher Highs (top) trend-line of the Channel. Technically we should see the pull-back extending as low as the Higher Lows zone. A reasonable target is just above the zone at 0.9200. See how well the RSI can give buy signals on its Support Zone and sell signals (such as the current) on its Resistance Zone. A break-out above the Channel Up, should set in motion a short rally towards the 1.236 and 1.382 Fibonacci extensions at 0.95325 and 0.95775 respectively. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
Short
by TradingShot
2