Strong Dollar to break the trend line. Strong support line could turn things around.
USDCHF is approaching our first support at 0.9832 (horizontal overlap support, 100% Fibonacci extension) where a strong bounce might occur above this level, pushing price up to our major resistance at 0.9891 (horizonal swing high resistance, 61.8% Fibonacci extension). Stochastic (55,5,3) is also approaching our support where a bounce off this level might see a...
USDCHF is approaching our first resistance at 0.9891 (horizontal swing high resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement) and price might potentially drop to our major support at 0.9840 (horizontal swing low support, 50% Fibonacci retracement, 100% Fibonacci extension). Stochastic (55,5,3) is also approaching our resistance and a reaction...
USDCHF is approaching our first resistance at 0.9891 (horizontal swing high resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement) and a strong reaction might occur below this level pushing price down to our major support at 0.9840 (horizontal swing low support, 50% Fibonacci retracement, 100% Fibonacci extension). Stochastic (55,5,3) is also...
I'm going to be looking around 0.98, 0.955, and 0.915 for buying opportunities. If price is trading around these prices, then I'll be looking on the daily time frame for bull candles. If I get a bull candle on the daily time frame, then I'll go to the 1H and place buy limit orders at previous market levels.
Price is retesting an old support now turned resistance. I'm looking for bear candles to post on the daily time frame. If that happens, then I'll go to the 1H time frame and place sell limit orders at previous market levels.
USDCHF has finally broken our support-turned-resistance at 0.9831 triggering a strong bearish drop from here. We are aided by strong bearish momentum from our bearish channel and our bearish Ichimoku cloud. We are waiting for some strength to push prices back up to resistance at 0.9831 (Fibonacci retracement, horizontal pullback resistance, breakout level). ...
the setup chart is 1Day the trigger chart is 1hour, on the daily chart, the formal support as been broken and now resistance on the 0.98311 so price is going down to touch the next support level 0.9700 (note 0.9700 is a round number) NOW zoom to the trigger chart, the 1hour chart good luck guys
USDCHF is being held in a descending channel where if it breaks its 1st support at 0.9831 (horizontal swing low, it could potentially fall to its next support at 0.9724 (38.2% Fibonacci retracement). RSI (89) is in the same descending channel and Ichimoku cloud is also showing signs of bearish pressure which contributes to our bearish bias. Trading CFDs on...
USDCHF is under heavy bearish pressure from our bearish channel and bearish Ichimoku cloud. We watch for the break of major support at 0.9831 to potentially open a big drop down to major support at 0.9742 (long term Fibonacci retracement). Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand...
I've entered this trade after we pulled back into 0.99, previous support, now confirmed resistance and we're now retesting 0.983, a major support level since 2015, which with today's weakness of the US$ I'm expecting to break today, it'll be interesting how the bulls respond to that level. Long-term we're in a range between two major weekly fib levels, 61.8%...
Looking for a potential USDCHF long as it has fallen below the 800 EMA and is approaching a very strong support level. Let's have a great week and eat up.
Place Take Profit at first support level 0.9711. Stop Loss just where the impulse is starting.
USDCHF broke out of our short term ascending support line and is testing our first support at 0.9848 (horizontal overlap support, 23.6% Fibonacci retracement) where we expect price to breakout and drop to our second support at 0.9731 (horizontal swing low support, 38.2% Fibonacci retracement). RSI (89) is also seeing a bearish exit and we might see a further drop...
Sell below 0.9848. Stop loss 0.9893. Take profit at 0.9731. Reason for the trading strategy (technically): USDCHF broke out of our short term ascending support line and is testing our first support at 0.9848 (horizontal overlap support, 23.6% Fibonacci retracement) where we expect price to breakout and drop to our major support at 0.9731 (horizontal swing low...