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Usdchfanalysis

USDCHF | Perspective for the new weekThe current technical structure suggests that the USDCHF remains pressured into a risk of a further decline in price. The appearance of a strong reversal pattern on the 4H timeframe gives me added reason to hold a bearish bias for the new week. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
1
Moving Average and Fibonacci exposing key levels in the USDCHF The USDCHF pair has been swinging from bullish to bearish from a weekly perspective on this pair. It has established strong resistances at 1.00571 to 1.00148, forming a double top as it tried to break these levels. The double top rejection resulted in the USDCHF pushing back down and bouncing off 0.94907. This price level corresponds to the 200 MA and the 0.5 fib level. From the perspective of the daily time frame, the USDCHF pair recently met a resistance around 0.974. At this point the 50 Moving Average signaled traders to possible further downwards movement of the pair. A key level to watch out for is 0.95959 or around the 100 MA. This level needs to hold for the price to move upwards and possibly test the resistance again. If this level doesn’t hold, the price could potentially reach the fib’s golden pocket of 0.618 around 0.93568 and the weekly 50 MA. If the price still goes further down the price could reach and test the 200 MA. Further afield, if the price smashes through all these supports, there could be a possible test of support around 0.883. The overall market sentiment for USDCHF is still bearish, as it has been since the start of April. Market participants might except further downside on the pair possibly even down to 0.883 support. Traders who choose to take a position and trade USDCHF should watch out for the levels mentioned above and position themselves wisely. Shorting the top or near the top of relief pumps might be a safer trade than taking longs on supports in hopes of a relief pump.
by BlackBull_Markets
USDCHF | Perspective for the new weekUSDCHF breaks below the bullish trendline that has been holding price action since the beginning of the month to set the tone for a potential bearish drive in the coming week. This video explains my plans in that regard. idenRisk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
1
USDCHF Short : Evening Star & Descending Channel Resistance Trend: The trend reverses as it has made a LL and LH. Candle Sticks: Bearish candle stick at LH of the chart. Parallel Descending Channel Resistance: The candle is formed at the channel's resistance. So the overall reasoning for taking a short from here is trend is downward making a descending channel with the formation of evening star at the channel resistance level. That means the price will potentially decrease from this point. Fibonacci Retracement: The TP1 and TP2 are derived from the fib retracement points while SL is placed at the HH of the chart.
Short
by sanasaeed