ICmarkets

USD/CHF Looking for a second retest of the round number 0.9

FX:USDCHF   U.S. Dollar/Swiss Franc
21 0 0
4hr TF.

The higher-timeframe picture resembles the following:

• Price is frustratingly consolidating above weekly demand at 0.85664-0.88124, and has been for several weeks now!

• Heavy buying into daily supply at 0.90372-0.90042 is currently being seen, if we see a break above this area, a likely push up to oncoming daily supply above at 0.91556-0.90985 will possibly happen.

Recent price action has seen price hit a 4hr supply area at 0.90372-0.90148 after breaking the round number 0.90000. Sellers then pushed price down to the round number, and from there a retest was seen, the buyers pushed price hard into the aforementioned 4hr supply area where once again selling action is being seen, take a look at all those wicks!

We must remember we are presently trading deep within daily supply at 0.90372-0.90042, so more selling could be seen soon, but judging by the beautiful reaction seen at the round number (level above), this level could be a fantastic area to buy from in the future.

Pending/P.A confirmation orders:

• New pending buy orders (Green line) are seen just above the round number 0.90000 at 0.90018. We would not normally set a pending buy order around a round number level such as this; however the first retest seen of this level gives us confidence to place an order such as this.
• Pending buy orders (Green line) are seen just above the decision-point level (0.89540-0.89614) at 0.89624. A pending buy order was placed here because this area remains an important decision-point area where the buyers ‘decided’ to trade above multiple highs, and the round number 0.90000.
• The P.A confirmation buy order (Red line) set just above the low 0.88546 at 0.88586 has now been cancelled, price rallied too far from the entry level.

• No pending sell orders (Green line) are seen in the current market environment.
• No P.A confirmation sell orders (Red line) are seen in the current market environment.

• Areas to watch for buy orders: P.O: 0.89624 (SL: 0.89523 TP: Dependent on price approach) 0.90018 (SL: 0.89928 TP: Dependent on price approach). P.A.C: No P.A confirmation buy orders seen in the current market environment.

• Areas to watch for sell orders: P.O: No pending sell orders seen in the current market environment. P.A.C No P.A confirmation sell orders seen in the current market environment.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out