AUDCHF is trading inside a Channel Down pattern for over 1 year but the 1D time frame is technicalls bullish (RSI = 68.224, MACD = 0.004, ADX = 39.835). The reason is that since May 1st, the Channel Down is having its bullish leg for the new LH (Lower High). The previous two LH were formed on the 1D MA200. As the RSI is about to cross into the overbought...
Analysis: Price was in this beautiful downwards trend until recently where we saw a break of that trend. Price managed to break with a strong daily candle signalling to us that there could be a possible change in the trend direction. Price has now pulled back to a key level which has held multiple times as support and as resistance so we expect that it will hold...
Traders, I see a classic Wyckoff accumulation pattern on a daily time frame on EURCHF. After a strong bearish wave, the market started to trade within a horizontal trading range. Even though, the price set a new low, consolidating, the market managed to return to the upper boundary of the range. Yesterday, a high momentum bullish candle was formed. The market...
-SL @ 1.1395 🚫 SLO @ 1.1380 ⏳ SSO @ 1.1366 ⏳ TP1 @ 1.1340 (shaving 25%) TP2 @ 1.1315 (shaving 25%) TP3 @ 1.1300 (shaving 25%) TP4 @ 1.1275 (closing ALL Sell Orders) SUPPORT @ 1.1266 IBR @ 1.1250
USDCHF - 24h expiry Short term bias has turned negative. Broken out of the channel formation to the downside. Previous resistance located at 0.9060. We look for a temporary move higher. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 0.9060, resulting in improved risk/reward. We look to Sell at 0.9059 (stop...
Hey Traders, In today's trading session, our attention is directed towards CADJPY, as we closely monitor a potential buying opportunity around the 103.900 zone. CADJPY is currently displaying an upward trend and is approaching a critical support level at 103.900, which holds significant importance. Furthermore, we are factoring in the latest development of an...
Hey Traders, in today's trading session, we have our eyes on CADCHF for a potential buying opportunity near the 0.67400 zone. CADCHF is currently in an upward trend but undergoing a correction phase, approaching the significant 0.67400 support and resistance area. Additionally, we are considering long positions in Canadian dollars due to the recent Bank of Canada...
Price fell rapidly leaving behind a huge imbalance where it preceded to tap into an established demand zone. It then broke structure to the upside on a lt. Thisower timeframe, which could be the start of the move up to fill in the imbalance above. Price also formed liquidity at the to of the main structure which it could potentially target. This has now presented...
Hey Traders! 👋 For Day 26/100 of our challenge, we will look at USDCHF for downside potential this week/month Technicals: - Overall downtrend - 62% fib Retracement - 0.91 key level rejection - Target 0.885 for June Recently breaking short term upside momentum with a daily bearish engulfing. That's all for Day 26. Have a great Sunday and hope you start your...
Hello Traders! In tomorrow's trading session, our focus will be on GBPCHF, as we keep a close eye on a potential buying opportunity within the 1.13200 zone. GBPCHF had been entrenched in a downtrend, but it recently succeeded in breaking out from it. Currently, it is in a correction phase, gradually approaching the retrace area located at the 1.13200 support and...
USDCHF is trading in a bearish trend since October 2022. Reaching 0.88 level, the market set a new lower low and started a correctional movement. The price started to steadily grow within a bearish flag pattern. At the end of May, a solid horizontal supply area was reached. The market started to consolidate on that. A bearish movement initiated then. The...
Inv Head and Shoulders seems to be forming on the CAD/CHF Minor Currency Pair. There is a fight between Canada and Swiss Franc and it looks like Canada is preparing the troops for upside in the chart. We need to wait for the higher low to form (right shoulder). Then for the price to break above the neckline and it will be breaking above the medium term...
EURCHF - 24h expiry We are trading at oversold extremes. 0.9680 continues to hold back the bears. Bespoke support is located at 0.9680. 0.9677 has been pivotal. Support is located at 0.9680 and should stem dips to this area. We look to Buy at 0.9681 (stop at 0.9661) Our profit targets will be 0.9731 and 0.9741 Resistance: 0.9700 / 0.9710 /...
SLO2 @ 0.7120 ⏳ SLO1 @ 0.6966 ⏳ TP4 @ 0.6885 (closing ALL Buy Orders) TP3 @ 0.6600 (shaving 25%) TP2 @ 0.6420 (shaving 25%) TP1 @ 0.6155 (shaving 25%) BSO @ 0.6085 ⏳ BLO @ 0.5990 ⏳
Hey Traders, in today's trading session we are monitoring GBPCHF for a buying opportunity around 1.12000 zone, GBPCHF is trading in an uptrend and currently is in a correction phase in which it is approaching the major trend at 1.12 support and resistance zone. Trade safe, Joe.
USDCHF - 24h expiry Broken out of the channel formation to the downside. A break of the recent low at 0.9035 should result in a further move lower. The bearish engulfing candle on the 4-hour chart is negative for sentiment. We look for losses to be extended today. The primary trend remains bearish. We look to Sell a break of 0.9028 (stop at 0.9057) Our...
The CHFJPY pair had a strong 5 week rally since our last buy call (see chart below) on April 28: Our final bullish target remains 159.000, which will make a perfect contact with the Higher Highs trend-line since January. But given the fact that the 1W MA50 (red trend-line) has been tested twice this year, we expect a stronger rejection this time and decline...
After price broke higher timeframe structure to the upside, it retraced back down and retested the demand zone it left behind in the process. Price preceded to break structure on the 4h timeframe, giving us a change of character to the upside which could be an indication of the initial move of the expansion upwards. Price has now formed liquidity above a demand...