USDCHF - where the bulls just wont give upFX:USDCHF
The bulls have been doing exceptionally well on this pair since the latter part of September to the point where the major resistance level has been reached and the inverse head and shoulder pattern has been completed with the exception of breaking the neckline - the current candle is above the neckline signalling the possibility of a bullish continuation however the candle needs to close as such to confirm the same.
I will be on H4 and D1 timeframe looking for a good entry to go long or for a sign of price reversal in which case a sell off could take place.
On my watch list and more details to follow.
Usdchftrade
New Buying Opportunity: USDCHF New Buying Opportunity: USDCHF
in 1H Chart, the Downtrend Channel was broken
therefore now the trend is no longer bearish
but sideway.
Watch 0.966-0.965 Level.
0.618+Horizontal Structure.
I will be ineterested to buy FX:USDCHF if it hits this zone.
Coz it may give us a potential High Low to catch
a new Up trend.
USDCHF - BEARISH SETUPHi traders, USDCHF is still Bearish . Don't miss this short. It has a huge potential.
As per my analysis, price action shall further move up to the below targets.
Entry: 0.99322 (or) Entry @ CMP
Take Profit: 0.97883 (TP1) & 0.95823 (TP2)
Stop Loss: 1.00532
Risk Vs Reward Ratio: 2.89
Go short the USDCHF ; Good Luck
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.