ForexVader
Long

USDCHF Channel - Bullish Continuation

FX_IDC:USDCHF   U.S. Dollar / Swiss Franc
Since the de-pegging of the Swiss, price became somewhat erratic, however the last few weeks have seen price moving nicely within this channel. Once again price reached the bottom of channel, coinciding with the minor daily support of 0.9700, before forming a double doji bottom formation, which should signal a bear move, a daily golden cross, supports the strength of the current trend and recently the Swiss has had some unusually poor economic data released, with PPI missing it's already not so good expectations, coming in at -0.3%.

Obstacles here include the 0.98000 SR Level and the fact that the movement that brought us back to the bottom of the channel was a massive bearish engulfing candle.

That said, an entry price above 0.9800 resistance, a SL below previous days lows and an initial PT at 0.9900 would make a good 1:1 trade, but we believe price will make it at least as far as 1.000 giving a reasonable 2.24:1 Reward:Risk ratio.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out