Phase 1 - Price made nice bull push to make new highs. Phase 2 - Price rejected new Resistance and pulled back to make new support at 137.85 level. Phase 3 - Price forming symmetrical triangle, Waiting for a breakout to upside or down, dont get caught in the false breakouts.
Price at major support level, If holds then i see price pushing up some but if price pushed through our support at 104 then short.
Overall i see this pair reversing and going bearish in a few days but first price needs to fill previous highs. Take Profit would be opportunity for a swing short.
Want to see price pull back a little, b4 go long. Fearless.
Price is consolidating and in resistance zone. Shooting for 75-90 pips.
USD/CHF recently broke an upward range, pullback to 0.9920-0.9940 is what im preparing for. Price is sitting in demand zone and has already borken one HL (Higher Low), if it breaks this second one, price moves lower.
UJ established itself around 108.45 on DAILY to start a slight bearish. 1H - Price is reacting too support/resistance, bearish continuation from 107.40 area. Consolidation around 106.80 resistance zone may stump for a little. Short term going to 106.50. Let price do what it wants to do.
Weekly / Daily : Price is having trouble breaking 1.3300 - 1.3350 area. 4 HR and 1 HR : 5 bounces on support trend line. Looking for intra-day buy up to 1.3300. Overall : Price needs to find itself and establish a trend before any long term aims. Keeping a close watch on this pair the next couple days.
We had a very strong bullish week last week with this pair. IF we want to SELL, price must obey our resistance trend line. IF we want to BUY, price is sitting in demand zone, looking for a breakout to the upside to continue with Hourly bullish trend.
Weekly : Bearish Trend Daily : Strong bearish closes past few market days. 4 HR and 1 HR: Price consolidating around/under trend line. Looking for close below. Overall : Looking for closes under trend line. Must obey the overall bearish trend on weekly and daily chart. Consolidation could form around 117.00 area.