$ / ₣
#Technical_analysis and #Orders
Good day, dear #investors and colleagues #traders!
Your attention a technical analysis of the currency pair #Usdchf:
#Comment_to_past_week:
The currency pair continued its decline in the previous week, having worked out the old correlation scheme: if #eurusd grows, then usdchf falls.
Investors continued to buy safe assets throughout the market.
The leaders of last week's growth were the franc and the yen.
Trading week ended for the asset with a decrease of 277 points (-2.87%).
#Technical analysis:
Globally (D1):
The currency pair has broken down the channel and is now heading to the key zone - 0.9315-0.9200. Investors notice this zone, since it was from the beginning of this zone that the pair was bought.
Locally (H1-H4):
The asset locally also broke through its downward channel and does not yet have a bright price level (technical, not mathematical), for at least some stabilization.
By tradition, we call the weekly support and resistance zones:
A) Support: 0.9242, 0.9119;
B) Resistance: 0.9448, 0.9580 & 0.9916;
#Orders_and_position:
- Leading indicators: demonstrate that the pair has entered the zone of potential purchases;
- Indicators of price behavior: demonstrate that at the moment, the price is not in the "normal phase" of its behavior, as a result of which opening positions is not recommended;
It is necessary to wait for the normalization of price behavior.
- Trend indicators: show a decline;
- Fundamental analysis:
Considering this asset, we need to take in the first place # SNB (Swiss National Bank). For the Swiss economy, an expensive franc is undesirable, as exports suffer from this.
Given that at the moment the rate is -0.75%, it is difficult to imagine that the Central Bank of Switzerland will lower the rate even more. Most likely, the Central Bank will carry out currency interventions, it is even possible that there is a risk of the minimum value of #eurchf returning to 1.20.
The question is, is it time?
Next time of the meeting of the SNB —-> 19.03
#Deal: Waiting.
At the current moment, opening transactions is undesirable, since the main indicator (Price Behavior Indicator) has come out of its normal state.
If the indicator returns to its normal position, we will try to open long positions.
You can follow all the changes on our monitoring:
MQL-->Cambellton-->WMCI_Asset_Management
Regards to subscribers,
Ltd ”Wermelgion and Partners Investment”
!Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion and Partners Investment” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.
#Technical_analysis and #Orders
Good day, dear #investors and colleagues #traders!
Your attention a technical analysis of the currency pair #Usdchf:
#Comment_to_past_week:
The currency pair continued its decline in the previous week, having worked out the old correlation scheme: if #eurusd grows, then usdchf falls.
Investors continued to buy safe assets throughout the market.
The leaders of last week's growth were the franc and the yen.
Trading week ended for the asset with a decrease of 277 points (-2.87%).
#Technical analysis:
Globally (D1):
The currency pair has broken down the channel and is now heading to the key zone - 0.9315-0.9200. Investors notice this zone, since it was from the beginning of this zone that the pair was bought.
Locally (H1-H4):
The asset locally also broke through its downward channel and does not yet have a bright price level (technical, not mathematical), for at least some stabilization.
By tradition, we call the weekly support and resistance zones:
A) Support: 0.9242, 0.9119;
B) Resistance: 0.9448, 0.9580 & 0.9916;
#Orders_and_position:
- Leading indicators: demonstrate that the pair has entered the zone of potential purchases;
- Indicators of price behavior: demonstrate that at the moment, the price is not in the "normal phase" of its behavior, as a result of which opening positions is not recommended;
It is necessary to wait for the normalization of price behavior.
- Trend indicators: show a decline;
- Fundamental analysis:
Considering this asset, we need to take in the first place # SNB (Swiss National Bank). For the Swiss economy, an expensive franc is undesirable, as exports suffer from this.
Given that at the moment the rate is -0.75%, it is difficult to imagine that the Central Bank of Switzerland will lower the rate even more. Most likely, the Central Bank will carry out currency interventions, it is even possible that there is a risk of the minimum value of #eurchf returning to 1.20.
The question is, is it time?
Next time of the meeting of the SNB —-> 19.03
#Deal: Waiting.
At the current moment, opening transactions is undesirable, since the main indicator (Price Behavior Indicator) has come out of its normal state.
If the indicator returns to its normal position, we will try to open long positions.
You can follow all the changes on our monitoring:
MQL-->Cambellton-->WMCI_Asset_Management
Regards to subscribers,
Ltd ”Wermelgion and Partners Investment”
!Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion and Partners Investment” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.
