USD/CHF forms shooting star pattern, good to sell on rallies

FX:USDCHF   U.S. Dollar / Swiss Franc
187 1
Candlestick pattern - Shooting star

USD/CHF has shown a profit booking after hitting high of 0.99770 on Dec 8th 2017. US dollar downside might be limited due to better than expected jobs data. U.S economy has added 228000 jobs in the month of Nov compared to forecast of 198K and unemployment rate was unchanged at 4.1%. The pair declined till 0.99159 at the time of writing. It is currently trading around 0.99179.

Market awaits US fed monetary policy which is to be held on Wed for direction. SNB policy assessment is on Thursday.

The pair’s near term support is around 0.9900 and any break below will drag the pair till 0.9880 (daily Kijun-Sen)/0.9840 (55- day EMA )/0.9805 (200- day EMA ).

On the higher side, 1.000 will be acting as major resistance and any break above will take the pair to next level till 1.00380/1.010.

It is good to sell on rallies around 0.9935-40 with SL around 0.9980 for the TP of 0.9845/0.9810.
Nice call 8-o

The top of the star/wick runs right into the supply zone at .9956, so the shooting star looks like the peak of the bullish trend that started at the bottom candle body .9759.

This is a great time to sell for profit or go short.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
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
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener 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