A break highr targets the channel resistance. Intraday Update: The USDCHF is at key resistance at .8909, and a sustained break higher would put the .8960's in play which is near channel resistance.
USDCHF trade ideas
USDCHF-LongUSDCHF has started a bullish trend as it has taken support from support level.we will take a long entry at the break of 0.89107
UsdchfAs we can see usdchf is on a down trend on 4h 1day and 1 week time frame so we wait for the pull back to the zone then we short
USDCHF → A retest of trend resistance. Probable rebound FX:USDCHF strengthened as the Swiss franc went into correction due to the actions of the central bank, which is trying to protect the currency from excessive strengthening.
Technically, the dollar is in the phase of correction, which may stop in the near future and the index may go back to the strengthening phase, but against this background the Swiss franc growth looks stronger, as this currency is considered as a hedge asset, which just in the crisis times was used by investors.
Technically, as long as the structure of the downtrend is not broken and a false break of resistance is formed, I would consider a bounce from the upper boundary of the channel to the zone of interest at 0.8885.
Resistance levels: 0.9010, 0.9050
Support levels: 0.892, 0.885
Bears can hold the resistance of the downtrend. The fundamental backdrop is still the same and in general may be maintained for some time, which may allow us to catch a downward movement to the mentioned target
Regards R. Linda!
USDCHF starts its bullish move Usdchf have found support on the low of @0.88200 and had to go back and grab the remaining liquidity to fuel the currency on a bullish move targeting Tp 1.@0.89128 and 2nd tp for aggressive traders @ 0.8440 its bulls as of now till end of the week.
USDCHF - UniverseMetta - Analysis#USDCHF - UniverseMetta - Analysis
Continuation of the trend - a potential 5th wave; an ABC structure may form and allow the price to continue its momentum towards the level of 0.92250. In order not to increase risks, it is better to consider exiting when the support level consolidates or breaks through. Local targets 0.89505. Next, a correction may form, and volumes can be increased for further upward movement.
Target 0.89505 - 0.92800
Wave analysis on USDCHFChart Analysis
H1 Chart:
• Elliot Wave:
• The chart indicates the formation of waves within the Elliot Wave structure. We see the completion of waves (i) and (ii) with an ongoing development of wave iii.
• Wave (ii) correction appears to have completed, implying the start of wave iii downwards.
• Potential target for wave iii could be the 50% Fibonacci level around 0.8800.
• MACD:
• The MACD shows a bearish momentum with the histogram moving into the negative territory and the MACD line crossing below the signal line.
• RSI:
• The RSI is around 38.47, indicating a bearish momentum but not yet in the oversold territory.
H4 Chart:
• Elliot Wave:
• The H4 chart presents a broader perspective with the ongoing formation of the third wave (iii) of a larger degree.
• After wave (ii), there is an apparent ABC correction with wave (c) completing just below 0.90506 (76.0% Fibonacci level).
• Currently, the formation of wave (i) is ongoing, indicating further downward movement after minor corrections.
• MACD:
• The MACD indicates strong bearish momentum with the histogram in deep negative and MACD line significantly below the signal line.
• RSI:
• The RSI is at 25.94, suggesting an oversold condition which may precede a minor upward correction before the continuation of the downtrend.
Daily Chart:
• Elliot Wave:
• The daily chart indicates a larger degree wave 1 down is completed, and wave 2 is an ongoing correction.
• After the completion of wave 2, wave 3 of the higher degree downtrend appears to be forming.
• This wave structure suggests a long-term bearish outlook with key levels around 0.85466 (23.6% Fibonacci level) and potentially lower towards 0.83251.
• MACD:
• The MACD line is well below the signal line, confirming the bearish trend continuation on a daily scale.
• RSI:
• The RSI on the daily chart is at 34.09, indicating that while the pair is bearish, it is approaching oversold levels, suggesting possible minor corrections.
Summary and Implications:
1. Short-Term (H1): The bearish momentum is likely to continue with potential corrections towards 0.88490 (wave iv) before further drops.
2. Medium-Term (H4): The broader wave (iii) is developing, suggesting a continuation of the downtrend after minor corrections. Watching for breaks below 0.8800.
3. Long-Term (Daily): The long-term outlook remains bearish with the development of wave 3, indicating substantial downward movement towards 0.85466 and potentially lower.
Trading Strategy:
• Short Positions: Favorable at the completion of minor corrections, particularly around 0.88490 and 0.89770 (61.8% Fibonacci on H4).
• Risk Management: Use tight stop losses above recent highs, considering the volatility and oversold RSI conditions which may lead to short-term pullbacks.
• Profit Targets: Set targets around key Fibonacci levels, such as 0.8800, 0.85466, and potentially 0.83251 for long-term trades.
This analysis highlights a predominantly bearish outlook for USDCHF with opportunities for both short and long-term trades based on Elliot Wave patterns, MACD, and RSI indicators.
USDCHF**USDCHF:**
This week's forecast is for the price to rise to the range between 0.89711 and 0.89982 and then reverse the trend and fall to the bottom of the channel.
1-Hour Chart Analysis: USDCHF
Chart Overview:
The price is currently trading around 0.88821.
There is a notable support zone around 0.88600 to 0.88700.
A resistance zone is observed around 0.89000 to 0.89200.
Technical Indicators:
The price has shown a potential bullish move from the support zone.
We can expect the price to test the resistance zone around 0.89000 to 0.89200.
If the price breaks above the resistance zone, further upside potential can be expected.
Conversely, if the price fails to break the resistance, it might retest the support zone.
USDCHF Potential sell setupEvery trade have its own risk factor, but making money require we take calculated risk .
I am seeing a potential sell setup on USDCHF
Will this setup play out?
Only time will tell
Wish you the best
Please follow my channel
Bearish reversal?USD/CHF is rising towards the resistance level which is a pullback resistance that aligns with the 61.8% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 0.8914
Why we like it:
There is a pullback resistance level which aligns with the 61.8% Fibonacci retracement.
Stop loss: 0.8969
Why we like it:
There is a pullback resistance level.
Take profit: 0.8835
Why we like it:
There is a pullback support level.
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USDCHF at Fibonacci ClusterThe major trend remains bearish; we predict that the price will continue its downward movement.
TP: 0.88316 (+2)
SL: 0.89066 (25 pips)
USDCHF - How To Break Down A Target ZoneA trading lesson on how to identify & breakdown profit taking areas. In this video I show you how I start with a broad zone and then proceed to break it down to a specific price point using structure analysis, Fibonacci tools & the anchored volume profile indicator.
We also look at a bullish opportunity on the USDCHF showing you what needs to happen in order for me to get involved.
I hope you guys find value in the video and if you have questions or comments, please leave them below.
Best of luck in the markets this week.
Akil
USDCHF Swing BuysThis is my analysis for USDCHF for the coming week. We have respected a strong daily buying region, received a confirmation on the 1hr (BOS UP). I am now hoping for price to retrace into the demand zone which caused the BOS UP and go long.
I am aware of the potential resistance selling area and will monitor price closely when approaching this zone.
Entry : 0.88460
SL : 0.88180 (28 Pips)
TP : 0.89460 (100 Pips)
RR : 3.57 : 1
Safe trading! :D
