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Usdchftrade

SELL USD/CHF @ MARKET .9758USDCHF has made steady progress north for the last 24 hours but has now hit the top of the existing channel. With RSI readings becoming stretched, the signs are that this channel may hold the price and we'll see a move south. USD/JPY has sold off steadily for the last 2 hours and possibly USD/CHF will try and catch up. I'm in at .9759 with a STOP above the channel at .9780 and a TAKE PROFIT at .9700. As ever I'll lock in a break even trade if we drop 25 pips.
Short
by theforexportal
I LOVE TREND LINES - SELL USD/CHFOn the H1 chart we can see a really nice trend line that dates back from the 1st of April. This line has been significant for the last 17 days so the question is - will this line hold and repulse the BEARS. My guess is no. Not with WR1 so close. WR1 will be targeted by the BEARS and my guess is that they will wait there to lay their ambush. Its only 30 pips from the trend line to WR1 and a move by the BEARS if they come in too soon will falter. I expect price to be met with resistance at the trend line and we could see a few hours of sideways movement before the BULLS make for WR1. Thats where the main SELLERS will be. I'll watch the battle on the smaller time frames and either enter the market if it looks like the BULLS are retreating or come in at WR1 if my indicators give me the green light.
by theforexportal
Volatile Markets In Recent Times ? PERFECT !Over the past few weeks, we have been observing huge volatile market with various currency pairs due to the spread of the virus. Times like this, volatility gives price to reach long term movement much faster, Looking at the USDCHF price as been trending downwards up until last week, an huge reversal occurred to the upside at the 0.918 support level. I expect price to continue with this trend and momentum towards 1.032 eitherways time would tell ! Risk Warning : The risk of loss in trading Foreign Exchange (FOREX) can be substantial. You should therefore carefully consider whether trading is suitable for you in the light of your financial condition. Goodluck !
Long
by Tim298