Will be looking to take a short position on CHF/JPY based on the following reasons: - Previous support has now become resistance (108) - Failure to break past 0.618 fib levell - Bounce of 50 EMA Trade safe
We will be watching to see if GBPUSD can regain its bearish momentum before the Fed announces interest rates on Wed. Although the street does not anticipate any move by the Fed, they may give a hawkish tone and if so that should add fuel to the short side. With that said we will be looking for a close below the short-term trendline on the hourly chart along with...
Back at it again with a CHF/JPY Long Term Short. Fundametally a weak currrency, CHF has been fundamentally struggling and decreasing its strength consistently. Although next GDP data release should firmly show us where the currency is heading until then fundamentals will not cause major sentiment and bias change on the Franc. With the JPY not performing much...
USDCHF has essentially been trading exactly off Euro news for a bit now and I think it wants to keep this trend going, regardless of strength/weakness of Swiss data coming out this week. This presents an opportunity. Look for Swiss data to move USDCHF out of correlation, play the retrace game back to where it "should" be given the price of EURUSD. This is a...
EURJPY could breakdown tonight with a close below our short-term uptrend line. If we get that close in conjunction with our proprietary price forecasting algorithm we will be taking EURJPY short along with a Long position in CHFJPY which will provide a correlation opportunity. By correlating EURJPY with CHFJPY we will be greatly reducing our directional risk...
USDJPY could be poised for a breakdown and resume it's longer-term trend. We will be waiting for a hourly close below the short-term trendline drawn on the chart as well as confirmation from our algorithm. If we take this trade we will be correlating it with CHFJPY, although proper money management must be put in place. For more information and to trade...
As posted previously in my published analysis of CHF/JPY I am looking to continue with my Short Bias with targets at 107.000 then onto 104.209 as the final target for this trade. I have entered yesterday was down about -60pips however, the trade now seems to resume its down move and currently sitting at about -14pips. Stop loss set at 112.109 Also check my...
USD/CHF trading in a very narrow range waiting for Breakout pass red. LONG after double long shadow on green around 0.9880 Target Profit @0.9990
-Break of Descending Channel -Daily MA crossed bullish -50% fib bounce -Price breaking C.T.L and 4hr res level Entry providing day closes above C.T.L D1 - Target 1 D2 - Target 2
Hello Traders, Here is a beautiful set up for CHFJPY. I would get added confirmation of the up move if and when an inverse head and shoulders is created. Pay attention to the green highlighted section and the reaction we see from there. Best, Chartistry
I see AUD under value keep look at 0.70355-0.71397
Hello Traders, Here I have utilized the the Wolfe Wave, Geo's Off-Set Rule, and Fib clusters. Wolfe Wave - Within the Wolfe's 1-2 and 2-3 points you must look out for an ab=cd pattern which we clearly have stated here. Points 3-4 and 4-5 are less likely to have such patterns. In fact, as a WW trader, you want the 4-5 path to be carved out as smoothly as...
Hello Traders, Here we have a Wolfe Wave pair similar to CADJPY, we hit point 5 last week and now would be a good time to short this pair using the Wolfe Wave pattern. This cancels out the previous chart I posted on CHFJPY(linked below). Best, Chartistry
CHF is getting value against other currencies, and during this week we can see downside movements as there is high pressure from above,