USDCHF short setupLooking to take shorts. This lines up with the current price on DXY. Dxy should turn from here and UCHF should follow suit.
Usd-chf
USDCHF bounce over the trendline 🦐USDCHF on the 4h chart is moving inside an ascending channel.
The price after the break above the weekly resistance is now trading between the support and another minor structure.
According to Plancton's strategy if the price will break above we will set a nice long order.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
USDCHF is consolidating in a triangle, potential for breakout!Price has been consolidating in a triangle. We see a potential entry at 0.92759 in line with 23.6% Fibonacci retracement , 61.8% Fibonacci extension, and graphical overlap towards our Take Profit at 0.93123 in line with 61.8% Fibonacci retracement . Technical indicators are showing bullish momentum.
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USDCHF is consolidating in a triangle, potential for breakout!rice has been consolidating in a triangle. We see a potential entry at 0.92759 in line with 23.6% Fibonacci retracement , 61.8% Fibonacci extension and graphical overlap towards our Take Profit at 0.93123 in line with 61.8% Fibonacci retracement . Technical indicators are showing bullish momentum.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
#USDCHF approaching pivot, potential for a drop! Description
Price is reacting below our pivot level at 0.93126 which is in line with 61.8% Fibonacci retracement levelhorizontal swing high resistance. Price can potentially take support at 0.92322, which is in line with 78.6% Fibonacci retracement levelhorizontal swing low support. Alternatively, price may rise up to our resistance at 0.93024, which coincides with 78.6% Fibonacci retracement levelhorizontal overlap resistance . This is further supported by how price is likely to bounce off the Stochastic support level .
Pivot:
0.93126
Why we like it:
61.8% Fibonacci retracement level horizontal swing high resistance
1st Support:
0.92322
Why we like it:
78.6% Fibonacci retracement level horizontal swing low support
1st Resistance:
0.93024
Why we like it:
78.6% Fibonacci retracement level horizontal overlap resistance
Trading FX & CFDs carries high risk.
USDCHF USDCHF has encountered a trend line of resistance. We have formed a rising wedge in the premium Fibonacci bears' zone. I think the price will go for some correction to the support line.
Best regards,
EXCAVO
#USDCHF approaching pivot, potential for a drop! Description
Price is reacting below our pivot level at 0.92869 which is in line with 50.0% Fibonacci retracement levelhorizontal pullback resistance. Price can potentially take support at 0.92322, which is in line with horizontal swing low support, 127.2% Fibonacci extension level. Alternatively, price may rise up to our resistance at 0.93024, which coincides with 50.0% Fibonacci retracement levelhorizontal swing high resistance . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
0.92869
Why we like it:
50.0% Fibonacci retracement levelhorizontal pullback resistance
1st Support:
0.92322
Why we like it:
horizontal swing low support, 127.2% Fibonacci extension level
1st Resistance:
0.93024
Why we like it:
50.0% Fibonacci retracement levelhorizontal swing high resistance
Trading FX & CFDs carries high risk.
USDCHF H4The inability to break the resistance and break out and create three peaks is not able to continue the climb
Sales look better
#USDCHF approaching pivot, potential for a reversal! Description
Price is approaching pivot level of 0.93018 where we have 50.0% Fibonacci retracement levelhorizontal swing high resistance lining up. A reversal from this level might see price take support at 0.92322, which is in line with horizontal overlap support, 38.2% Fibonacci retracement level. Finally, price is unlikely to surpass our strong resistance at 0.93321, which coincides with 127.2% Fibonacci retracement level . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
0.93018
Why we like it:
50.0% Fibonacci retracement levelhorizontal swing high resistance
1st Support:
0.92322
Why we like it:
horizontal overlap support, 38.2% Fibonacci retracement level
1st Resistance:
0.93321
Why we like it:
127.2% Fibonacci retracement level
Trading FX & CFDs carries high risk.
USD Strenghtening Due To Declining Jobless ClaimsFundamental Info: Today it was reported that there is a decline in the numbers of Initial Jobless Claims and Continuous Jobless Claims of US which are totally a good trend for the job market of the country. If the trend persists, we can expect the Fed to have more hawkish on interest rate comments in the future.
Technical Analysis : Based on 4H Chart, USDCHF is now actually running on the uptrend line. A recent good job market report could continue the trend.
Buy USDCHFThe price has retested the breaker which was a liquidity point. It validated it and the price has a bullish order flow and we look forward to buying.
In the 4hr timeframe price, yesterday bounced of the Low Of The Month(LOTM).
#USDCHF approaching pivot, potential for a bounce!Description
Price is approaching pivot level of 0.92911, which is in line with 50.0% Fibonacci retracement level, 61.8% Fibonacci retracement level. A reversal from this level may see price take resistance at price 0.93698. This level coincides with 127.2% Fibonacci retracement level. Finally, we can expect price to take support at 0.9269450.0% Fibonacci retracement level, 61.8% Fibonacci retracement level . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
0.92911
Why we like it:
50.0% Fibonacci retracement level, 61.8% Fibonacci retracement level
1st Support:
0.92694
Why we like it:
50.0% Fibonacci retracement level, 61.8% Fibonacci retracement level
1st Resistance:
0.93698
Why we like it:
127.2% Fibonacci retracement level
Trading FX & CFDs carries high risk.
#USDCHF approaching pivot, potential for a bounce!Description
Price is approaching pivot level of 0.92911, which is in line with 50.0% Fibonacci retracement level, 61.8% Fibonacci retracement level. A reversal from this level may see price take resistance at price 0.93698. This level coincides with 127.2% Fibonacci retracement level. Finally, we can expect price to take support at 0.9269450.0% Fibonacci retracement level, 61.8% Fibonacci retracement level . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
0.92911
Why we like it:
50.0% Fibonacci retracement level, 61.8% Fibonacci retracement level
1st Support:
0.92694
Why we like it:
50.0% Fibonacci retracement level, 61.8% Fibonacci retracement level
1st Resistance:
0.93698
Why we like it:
127.2% Fibonacci retracement level
Trading FX & CFDs carries high risk.
USDCHF holding below descending trendline resistance! Potential USDCHF is holding below descending trendline resistance and 1st resistance at 0.92736 in line with 50% Fibonacci retracement and 23.6% Fibonacci extension. A further push down towards 1st support at 0.92161 in line Horizontal swing low and 61.8% Fibonacci extension may be expected. Our bearish is further supported by how Stochastic is reacting below resistance where price dropped in the past. Otherwise price may bullish towards 2nd resistance at 0.92919 in line with 61.8% Fibonacci retracement and 61.8% Fibonacci extension.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
USDCHFThe market patterns seems good for selling on a daily and 4 hour which looks good for a buying position, look for confirmations on the lower time frames and let it ride! ;)
