The head rejected the 61.8% Fibo level. Let's see if the right shoulder will form.
Hey guys, Even though I am bullish on USD/CHF it looks like we could potentially have a H&S in progress. The idea is simple: Should price break 0.96 upwards, the H&S idea is invalid. On the other hand, should price breaks the trend line, there's a high chance it will go and touch the neckline again. If that occurs, I will sell the breakout with a TP @...
USDCHF broke out of its ascending support-turned-resistance line and is testing its resistance at 0.9578 (38.2% Fibonacci retracement, 23.6% Fibonacci retracement) where we expect to see price push all the way down to its support at 0.9525 (horizontal swing low support). We do have to be cautious of the intermediate support at 0.9553 (76.4% Fibonacci retracement)....
USDCHF is testing our first resistance at 0.9599 (horizontal overlap resistance) and a strong reaction might occur below this level, pushing price down to our major support at 0.9525 (horizontal swing low support). A breakout below our intermediate support at 0.9566 (horizontal overlap support, 38.2%, 61.8% Fibonacci retracement) might provide the bearish...
ENTRY: 0.95411// SL: 0.95271// TP: 0.95741
USDCHF is approaching major support and we can expect a bounce soon. Buy above 0.9499. Stop loss at 0.9459. Take profit at 0.9582. Reason for the trading strategy (technically): Price is approaching our major support area of 0.9500 (Fibonacci retracement, Fibonacci extension, horizontal overlap support, Elliott wave structure) where we expect a bounce from to...
Once it breaks the resistance, i would suggest a long position.
The falling wedge has broken to the upside. Going long...
USDCHF possible rebound with monthly resistance to then start a bearish trend
The US Dollar has strengthened by 3.94% against the Swiss Franc during the past few weeks. This movement has been stranded in an ascending channel. As apparent on the chart, the pair has failed to reach its upper boundary since March 9 and is currently being restricted by the monthly R1 at 0.9550. This situation suggests that the pair might have lost its upward...
USDCHF HeadAndShoulder pattern on H1 Timeframe, it will touch 0.94600 and next up again
USDCHF is seeing some nice support and a nice bounce could occur from here. Buy above 0.9421. Stop loss at 0.9335. Take profit at 0.9536. Reason for the trading strategy (technically): Price is testing strong support at 0.9421 (ascending support, Fibonacci retracement, horizontal overlap support) and a strong bounce could occur from here to push price up to...
USDCHF Break or Bounce? only time will tell.... However, my bias is a downward push yet again for the USD. Upon break out and candle close we will begin to approach the market with a trade decision.