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Usdchfforecast

USD/CHF ReversalTechnical Analysis Looking for a reversal and to ease into some short term positions for USD/CHF, some great low risk short opportunities have present themselves. RSI: Holding Over 70 indicating the currency is still being overbought, however have had a sharp declined indicating bears gaining momentum. MACD: Giving off a valid short signal, as can be seen through the crossing of the MACD line through the Signal line. Something of note is the massive disparity in the volume indicator; we can see on Thursday May 10th we had a huge spike in volume in USD/CHF and have dropped significantly which suggests less interest in the currency usually associated with 'sell signals', although its not indicative in itself therefore should be utilised with other indicators.
Short
by MoneyBodySoul
USDCHF SHORT (LONGTERM)Analysis: I've seen USDCHF show 5 waves down to create an 'A' wave, and then retrace towards the origin of the impulse (B wave) it has hit the reversal zone at current price. Hypothesis: I am looking for latent short orders to kick in at current levels and a bit above. Price should stall at this reversal area I have identified between the 2 red lines. Price is projected to go to the 78.6/88.6 Fibonacci numbers of the previous larger timeframe impulsive wave creating the wave 'C'. Risk Management: Trade potential 5:1 + Take off half at 2:1, and move stops to Break even. Let rest ride to Target. If you are concerned going short against short term bullish momentum.. you can wait for a 1D bearish candle before entry. PS: If my analysis is to your liking... please like the post & subscribe. Thanks.
Short
by james_007
USDCHF profit target reached, prepare for a bounceBuy above 0.9264. Stop loss at 0.9199. Take profit at 0.9438. Reason for the trading strategy (technically): Price has dropped perfectly from our selling area to our profit target. We prepare to buy above major support at 0.9264 (Fibonacci extension, horizontal swing low support, bullish exit) for a bounce up to at least 0.9438 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (34,5,3) is seeing major support above 6.5% where a corresponding bounce could occur.
Long
by MEX_Exchange
1
USDCHF testing major resistance, remain bearishSell below 0.9734. Stop loss at 0.9756. Take profit at 0.9675. Reason for the trading strategy (technically): Price is now testing major resistance at 0.9734 (Fibonacci retracement, horizontal overlap resistance) and we expect a strong reaction from this level to drive price down to at least 0.9675 support (Fibonacci retracement, horizontal swing low support, Fibonacci extension). RSI (34) has broken below our long term ascending support-turned-resistance line signalling that a change in momentum is about to be seen in price. It is also now on pullback resistance.
Short
by MEX_Exchange
USDCHF right on selling area, remain bearishSell below 0.9762. Stop loss at 0.9811. Take profit at 0.9641. Reason for the trading strategy (technically): Price is once again right on our selling area. We remain bearish below major resistance at 0.9762 (Fibonacci retracement, Fibonacci extension, bearish divergence) for a drop from this level to at least 0.9641 support (Fibonacci extension, horizontal swing low support). Stochastic (55,5,3) is seeing strong resistance below our 98% level where multiple reactions had occurred in the past. We also see bearish divergence vs price signalling that a drop is impending. Correlation analysis: We’re seeing a drop on USDCHF and similarly a bounce on EURUSD which goes in line with its negative correlation with each other.
Short
by MEX_Exchange