Usdchfsignal
USDCHF top-down analysis todayHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
USDCHFThe Swiss Franc fell strongly last week to reach very close to a new 3-year low against the US Dollar, and to reach and surpass parity with it. European currencies excepting the Euro are generally weak, but the Franc is showing standout weakness.
The fall in the Swiss Franc has been unusually strong, being a firmer directional trend over the past few weeks than any other currency excepting the US Dollar. This is unusual as the Swiss Franc rarely trends strongly.
With a still-strong US Dollar, and non-USD currencies (especially European currencies) looking weak, the price may rise further over the short-term. However, bulls should beware of two factors:
The price hit and rejected the old key resistance level at $1.0050.
The Swiss Franc rarely trends for long.
I will not take this trend trade, but it may be attractive to other speculators.
USDCHF LongTime Frame: 4H
Symbol: USDCHF
Entry: 0.99624
TP: 1.02266
SL: 0.97587
Bias: Long
Currently the established pattern for this instrument is showing a long bias. As we see entering any trade at extreme long is very risky . However, considering the bullish strength of US dollar, we are planning a long position for this pair.
USDCHF LongTime Frame: 4H
Symbol: USDCHF
Entry: 0.99487
TP: 1.02910
SL: 0.97128
Bias: Long
The trend of USDCHF is bullish. There may be some swing spots where the price will try to establish equilibrium between extremes but at the end of the day the trend is bullish and therefore it is better to look for a buying opportunity.
USDCHF LongTime Frame: 4H
Symbol: USDCHF
Entry: 0.99512
TP: 1.02402
SL: 0.97280
Bias: Long
We are bullish for USDCHF . As we see the pair is consistently outperforming its previous records, there should be a limit to its upward projections. However, our expectation is still bullish and we are looking for a new long opportunity.
USDCHFThe US dollar has rallied for the last month relentlessly against the Swiss franc. This will more likely than not continue to be the case, but we are getting a bit overstretched. I would anticipate a short-term pullback this coming week, with buyers coming back in to pick up the market. Longer term, it is very likely that we will go looking to reach the parity area, which will attract quite a bit of attention in and of itself.
USDCHF LongTime Frame: 4H
Symbol: USDCHF
Entry: 0.98401
TP: 1.00978
SL: 0.96565
Bias: Long
The pair rallied upto 3% or above for the last eight weeks and still it is on the same side. In spite of being RSI at oversold territory, the bullish mood is still predominant and we are looking for a long opportunity.