Trade what see:
USDCHF very over extended after a huge bullish run.
This run came to an end and the market peeled back to its 21.8% retracement level.
Give the USD sentiment at the moment, this trade has great potential for another leg higher.
First of all we need to break the resistance trend line.
Will update once position is live.
USDCHF is testing our first resistance at 0.9960 (horizontal swing high resistance) and a strong reaction might occur below this level pushing price down to our major support at 0.9731 (horizontal swing low support). A breakout below our short term ascending support line and intermediate support at 0.9845 (horizontal pullback support, 23.6% Fibonacci retracement) ...
USDCHF has been dropping nicely from our major resistance previously. Our major resistance is now moved to 0.9960 (horizontal overlap resistance, bearish Ichimoku cloud) where a further drop could occur in pushing prices down to major support at 0.9731 (Fibonacci retracement, horizontal pullback support). We are seeing intermediate support at 0.9854 too (Fibonacci...
The US Dollar has been declining against the Swiss Franc in May. The decline began after the currency exchange rate met with the upper trend line of a dominant ascending channel up. Moreover, the reversal occurred just as the rate reached above the psychological 1.00 mark.
In the aftermath of the bounce off from the resistance, the currency exchange rate traded...
USDCHF is approaching our first resistance at 0.9955 (horizontal pullback resistance, 23.6% Fibonacci retracement) where price might potentially fall to our support at 0.9856 (horizontal pullback support, 23.6% Fibonacci retracement) which coincides with the short term ascending support line. RSI is also facing bearish pressure as it is approaching its resistance.
USDCHF is approaching resistance where we can expect a strong drop.
Sell below 0.9951. Stop loss 0.9992. Take profit at 0.9856.
Reason for the trading strategy (technically):
USDCHF is approaching our resistance at 0.9951 (horizontal pullback resistance, 23.6% Fibonacci retracement) and we expect price to drop below this level to our support at 0.9856...
price is nearing a strong resistance zone that has been standing the test of time for a few years...
i'm looking to see if price can reach the yellow marked resistance zone and Looking for downside
in that area as i don't see price passing that zone (potential trade setup)
USDCHF is testing major resistance at 1.0040 (Fibonacci extension, Fibonacci retracement, major swing high resistance) and a strong reaction could occur at this level to push prices all the way down to first major support at 0.9731 (Fibonacci retracement, horizontal overlap support).
Stochastic (89,5,3) is seeing major resistance at 97% where a corresponding...
Hi guys,
As some of you know, I have been bullish on the pair for several weeks now (please check my previous ideas below).
We can clearly see on the weekly that the price is in a consolidation channel which should lead the pair to test the top of this channel at around 0.9850.
Trade with care.
Cheers
Jesse
USDCHF is approaching our first resistance at 1.007 (horizontal overlap resistance, 50% Fibonacci retracement) which coincides with our short term descending resistance line. A strong reaction might occur below this level, pushing price down to our major support at 0.9957 (horizontal swing low support, 100% Fibonacci extension.
RSI (89) is also testing our major...
Implications and Outlook
1. Bounce momentum likely to Key Resistance 1.00490 from here as Swissy is prone to drop to Mean Support of 0.98670
2. Price action is continually confirming the value of the completion of the intermediate-term Currency Rally 1.00560.
3. The violation of the intermediate-term Currency Rally will undoubtedly bring robust short-term...
We can see price has recently broken out of a descending trend line, price looks to be retracing on its way to 0.786 fib level from the previous swing which is also at key resistance levels. We expect price to touch this area and continue to decline to follow the longer term trend. There is also a possibility of a false breakout of the structure due to the most...
