USDCHF Trendline BounceA rejection of the up trending trend line with a printed bullish engulfing confirmed for me that momentum would continue up to the 0.96800 area. Hitting target perfectly before now a possible new higher low being created.
Usdchftrade
USDCHF Approaching Major Support, Prepare For A Bounce
USDCHF is approaching major support and we can expect a bounce soon.
Buy above 0.9499. Stop loss at 0.9459. Take profit at 0.9582.
Reason for the trading strategy (technically):
Price is approaching our major support area of 0.9500 (Fibonacci retracement, Fibonacci extension, horizontal overlap support, Elliott wave structure) where we expect a bounce from to push prices all the way up to major resistance at 0.9582 (Fibonacci extension, horizontal swing high resistance, Elliott wave structure). We can already start scaling into our position when price is at the 0.9510 level.
Stochastic (89,5,3) is seeing strong support above 2.8% and we expect prices to bounce up when it’s around that level.
USD Rallying Against Swiss. Current Trade in Profit.Last Friday (Yellow Triangle on chart) I pointed out that I thought the Franc would yield up some turf to the Dollar, which seems to be the case this week. Right now the Dollar is testing recent supply area. I've drawn in a new support trendline, but the Swiss is a hard nut to crack. Price action will need to close above area of supply resistance. If that happens I'll be adding in an additional lot or two. I'm currently LONG from 0.93878 with Target 1 @ 0.97275 but will take 0.968 as a more conservative target if momentum starts to dwindle.
USDCHFUpdate: Target 1 is hit. Let's see if the price can shoot up to target 2 and so on. Tomorrow will be crucial for USD due to news. Good luck!
USDCHFThe bull fractal was broken which indicates high probability of a new trend to be established. Be always aware that the price may also continue to go down and may also go sideways. My bias is bullish :)
USDCHF target reached perfectly, potential for a bounce!USDCHF has dropped strongly and reached our forecasted support. We’re now seeing major support above 0.9408 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and a strong bounce could occur at this level to push price up to 0.9465 resistance (swing high resistance, Fibonacci extension).
Stochastic (34,5,3) is seeing major support at 5.6% where a corresponding bounce could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
USDCHF profit target reached perfectly once again, time to buyIntro: USDCHF dropped strongly from our selling area and reached our profit target. Time to start buying again.
Buy above 0.9408. Stop loss at 0.9375. Take profit at 0.9486.
Reason for the trading strategy (technically):
Price has dropped strongly from our selling area and reached our profit target perfectly. We are now seeing major support at 0.9408 (Fibonacci retracement, horizontal overlap support, ascending support) and a strong bounce could occur at this level to push price up to 0.9486 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is seeing major support above 3.3% where a corresponding bounce could occur.
USDCHF has risen strongly, now testing major resistance!USDCHF has risen strongly and is fast approaching major resistance at 0.9466 (Fibonacci extension, horizontal swing high resistance) and a strong reaction could occur at this level to drive price all the way down to 0.9405 support (Fibonacci retracement, horizontal pullback support) before 0.9324 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance at 96% where a corresponding reaction could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
USDCHF testing strong support, prepare for a potential bounceUSDCHF is testing major support at 0.9589 (ABC Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) and a strong bounce could occur at this level to drive price up to at least 0.9695 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (55,5,3) is seeing major support above 0.5% where a potential corresponding bounce could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
USDCHF H4 Key AreaThe price is sitting within a very important area containing the monthly support / resistance and also a powerful demand / supply zone. At the moment it is pushing to break the monthly pivot along with the 78.60% fib level, I will not be entering until there is a clear break of this blue zone and a show of power to the upside. Possibly then heading back to the 0.98331 resistance price.
USDCHF bullish crab formation, keep an eye out!USDCHF is forming a bullish crab formation with first major support at 0.9605 (ABC Fibonacci extension, bullish harmonic crab formation) and a strong bounce could occur at this level to push price up towards 0.9695 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,5,3) is seeing major support above 0.4% where a corresponding bounce could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
USDCHF Buy Opportunity USDCHF Counting on trend continuation. Opened a buy trade with this pair. Target 0.994 Levels SL: 0.988 levels
USDCHF forming a nice reversal with a lot of divergenceSell below 0.9898. Stop loss at 0.9925. Take profit at 0.9843.
Reason for the trading strategy (technically):
Price has been testing our selling area forming even more divergence. We remain bearish below major resistance at 0.9898 (descending resistance, horizontal overlap resistance, Fibonacci retracement, bearish divergence) and we expect to see a strong drop from here towards 0.9843 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance below 97% and also sees bearish divergence vs price, signalling that a reversal is impending.
USDCHF right on major resistance, time to sellSell below 0.9881. Stop loss at 0.9948. Take profit at 0.9738.
Reason for the trading strategy (technically):
Price is now testing our major selling area resistance at 0.9881 (Fibonacci retracement, horizontal overlap resistance) and we expect to see a strong reaction from this level to push price down to at least 0.9738 support (Fibonacci retracement, horizontal swing low support, price gap).
Stochastic (34,3,1) is seeing major resistance at 97% where we expect a corresponding drop from.
USDCHF Bullish BreakoutHere you have the Swiss Franc setting up for another push higher. After breaking the long term down trend line it appears as if it is ready to break above the short term down trend line. The safe trade is to enter the long position once the short term down trend line is broken with a stop below the low established at the 50% fib level that coincides with the backside of the long term trend line.
USDCHF approaching major resistance, prepare to sellSell below 0.9881. Stop loss at 0.9948. Take profit at 0.9738.
Reason for the trading strategy (technically):
Price is testing channel resistance and major resistance at 0.9881 (Fibonacci retracement, horizontal overlap resistance, channel resistance) and we expect to see a strong reaction from this level to push price down to at least 0.9738 support (Fibonacci retracement, horizontal swing low support, price gap).
Stochastic (34,3,1) is seeing major resistance at 97% where we expect a corresponding drop from.
USDCHF profit target reached perfectly, remain bearish Sell below 0.9787. Stop loss at 0.9836. Take profit at 0.9671.
Reason for the trading strategy (technically):
Price has dropped perfectly and reached our profit target. We look to sell on the break of strong support at 0.9787 for a further push down to at least 0.9671 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support).
Stochastic (34,3,1) is telling us that we’ll likely see a bounce any further sideways price action before a drop to confirm our bearish move.
USDCHF reversing below our stop loss resistance, remain bearish Sell below 0.9874. Stop loss at 0.9896. Take profit at 0.9786.
Reason for the trading strategy (technically):
Price has reversed nicely below our stop loss yesterday. We look to remain bearish below 0.9874 resistance (Fibonacci retracement, horizontal overlap resistance, bearish divergence) for a further push down to at least 0.9786 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) has good downside potential for our remaining drop.
USDCHF BUY WE WILL SEE A BIG MOVE TOWARDS UPSIDE. IT WILL PAYOFF JUST BE PATIENCE !!
LETS MAKE MORE MONEY !!
USDCHF testing our selling area and remains bearishSell below 0.9842. Stop loss at 0.9884. Take profit at 0.9733.
Reason for the trading strategy (technically):
Price has made a pullback to our selling area exactly as expected and is now testing our selling area. We remain bearish looking to sell on strength below major resistance at 0.9842 (Fibonacci retracement, horizontal overlap resistance, breakout pullback, bearish divergence) for a further push down to at least 0.9733 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support).
Stochastic (21,3,1) is dropping nicely from our resistance and has also formed bearish divergence vs price signalling that a reversal is impending.
USDCHF right on selling area, time to go short Sell below 0.9842. Stop loss at 0.9884. Take profit at 0.9733.
Reason for the trading strategy (technically):
Price has made a pullback to our selling area exactly as expected. We remain bearish looking to sell on strength below major resistance at 0.9842 (Fibonacci retracement, horizontal overlap resistance, breakout pullback) for a further push down to at least 0.9733 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support).
Stochastic (21,3,1) is approaching our major resistance level of 97% where we expect a corresponding reaction from.
