USDCHF Long! Price-Action idea guide on DailyKeep in mind, Price is currently trading below a Weekly trend-line not included on charts.
Price is also inside Two Eclipsed Buy-Zones-- with corresponding upside targets.
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Usdchfprediction
USDCHF in Demand Zone; Chances of a reversalI have started trading USDCHF after a long time because I feel the market has been sold off to a point where it could potentially reverse.
As indicated in the chart, USDCHF is currently in a historical demand zone + Trend Line Support.
Besides, the recent rate cuts by the Fed will provide some sort of support to the stock market thereby reducing the demand for safe havens such as Swiss Franc(CHF) to a certain degree.
The above factors make me believe that a short term reversal is on the cards.
So, traders can look for Buys between 0.9500-0.9740 with SL below 0.9430.
TPs can be set at 0.9650 and 0.9740 respectively.
UCHF jumped from the trendline and can make a 300 pip jump.USDCHF is at the 0.95 support level and is currently holding it. the candles touched the descending trendline and made a small pullback.
the expectation is that die positive US numbers will push the dollar up. we can see an upside movement till the 0.98 zones.
USDCHF potential bounce!
USDCHF expected to reverse up to 1st support at 0.97398 where it could potentially react and bounce to its resistance at 1st resistance at 0.98126.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
USDCHF: Sell Trade SetupThanks for Taking Interested in my Trading Idea.
USDCHF: Sell Trade Setup
According Price action rejection market need to flow down side.
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a closeup in the 30 min TF of the usdchfwe see a perfect 5 wave pattern that is completed. it started at the wave 2 rejection on the .50 level of the fib.
level for has the support of the -0.27 extension level of the Fibonacci. we are at a zone where we can develop an ABC pattern to
make a natural correction. with the FOMC on the mind, we are open for some wicks and more downside movement.
completed wave pattern and a multiple ressistancewe see a perfect 5 wave pattern that is completed. it started at the wave 2 rejection on the .50 level of the fib.
level for has the support of the -0.27 extension level of the Fibonacci. we are at a zone where we can develop an ABC pattern to
make a natural correction. with the FOMC on the mind, we are open for some wicks and more downside movement.