Recently the US Dollar reached historical low levels against the Swiss Franc. However, after flirting with the low level below the 0.9450 mark the currency exchange rate has rebounded. The historical low levels where consistent with the massive scale descending channel pattern's lower trend line, which is a clear signal for a long term surge. The rebound is...
Sell below 0.9756. Stop loss at 0.9785. Take profit at 0.9679. Reason for the trading strategy (technically): Price has shot up perfectly and reached our profit target yesterday. We prepare to sell below major resistance at 0.9756 (Fibonacci extension, horizontal swing high resistance) for a push down to at least 0.9679 support, Fibonacci extension, Fibonacci...
Buy above 0.9672. Stop loss at 0.9627. Take profit at 0.9758. Reason for the trading strategy (technically): Price is right on major support at 0.9672 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and we expect to see a major bounce above this level to push price up to at least 0.9758 resistance (Fibonacci extension, horizontal swing...
Sell below 0.9672. Stop loss at 0.9711. Take profit at 0.9580. Reason for the trading strategy (technically): Price shot up and reached our profit target perfectly before dropping from there. We are now seeing strong support broken triggering a double top reversal. The plan is to sell below major resistance at 0.9672 (overlap resistance, Fibonacci retracement)...
Buy above 0.9679. Stop loss at 0.9629. Take profit at 0.9757. Reason for the trading strategy (technically): Price continues to inch down towards our buying area. We remain bullish looking to buy on dips above 0.9679 support (Fibonacci retracement, horizontal pullback support) for a further push up to 0.9757 resistance (Fibonacci retracement, Fibonacci...
The pin bar rejected the channel. Consolidation is also happening. Triple bottom is there. Waiting to see a break either up or down.
Buy above 0.9679. Stop loss at 0.9629. Take profit at 0.9757. Reason for the trading strategy (technically): Price continues to inch down towards our buying area. We remain bullish looking to buy on dips above 0.9679 support (Fibonacci retracement, horizontal pullback support) for a further push up to 0.9757 resistance (Fibonacci retracement, Fibonacci...
USD_CHF: Dollar miraculously survive the fall and suddenly targeting the major resistance area. It could target the major structure resistance above. The FOMC statement made dollar bullish and could see in all currency pairs. If the chart moves above the 1st major resistance, it could continue to move higher but could not break the bearish trendline above.
Hello Traders, Recent strength in USD has provided a buy signal in USDCHF with the above targets.
Buy above 0.9676. Stop loss at 0.9640. Take profit at 0.9757. Reason for the trading strategy (technically): Price has shot up and reached our profit target perfectly. We remain bullish looking to buy on dips above 0.9676 support (Fibonacci retracement, horizontal pullback support) for a further push up to 0.9757 resistance (Fibonacci retracement, Fibonacci...
Buy above 0.9578. Stop loss at 0.9525. Take profit at 0.9675. Reason for the trading strategy (technically): Price continues to slowly climb towards our profit target in our bullish channel. We remain bullish looking to buy above major support at 0.9578 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a bounce up to at least 0.9675...
ENTRY: 0.96193// SL: 0.96064// TP: 0.96517
ENTRY ZONE: 0.95986// TP: 0.96514// SL: 0.95843
Buy above 0.9578. Stop loss at 0.9525. Take profit at 0.9675. Reason for the trading strategy (technically): Price has bounced off perfectly from our buying area as expected. We remain bullish looking to buy above major support at 0.9578 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a bounce up to at least 0.9675 resistance...