Usdch
USDCHF going to Mitigate the Unmitigated zonewe have a big empty zone from mitigation and a down zone of liquidity
USDCHF💲Head and shoulders!❗USD / CHF, an additional signal in favor of the fall of the Dollar Franc currency pair on FOREX will be a rebound from the trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the Head and Shoulders reversal pattern. Cancellation of the option to drop the USD / CHF pair on Forex will be a strong growth and a breakdown of the 0.9405 area. This will indicate a breakdown of the resistance area and a continued rise in the USD / CHF quotes in the area above the level of 0.9635. It is worth waiting for confirmation of a fall in the USD / CHF quotes with the breakdown of the support area and closing the price below 0.9215, which will indicate the completion of the formation of the “Head and Shoulders” reversal pattern.
Have a nice trade!
USDCHFPrice is still ranging at .618 Fib. Could drop from here or make one more push the .786 level. Thoughts?
USD/CHF short from 0.9980 – 0.9990 areaThere is a very nice case of the Volume accumulation setup on the USD/CHF.
The downtrend tells us that the volumes accumulated in the rotation were most likely volumes of strong sellers. When the price makes it back to this level, those sellers will try and defend their selling positions by aggressive selling activity. This should push the price lower again.
*You can also notice how nicely the price reacted on the volume cluster created within the trend (Trend setup).
USDCHF - Bat pattern completion indicates further downtrend ?After the SNB announcement the USD plunged against the Swiss Franc. Since that day it has been fluctuating in an ever smaller range (see the 240 chart), never exceeding the 0.88 range. This forms a flag pattern on the chart which usually results in a trend continuation (in this case to the downside)
On the 60 min chart we can see a bat pattern completion which indicates the same direction.
If we consider this pattern to be the indicator for the break of the flag pattern, we can set targets at the .618 and the 1.272 extension (dotted green arrow). A more conservative approach uses the .382 and .618 retracements as targets.
