CHFJPY is a nice runner from the start of this week but price action seems to be struggling to the upside whereas the momentum is getting weaker as well which is suggesting a sharp sell off. If you have your trading strategy watch out for shorts. Trade Safe!
Each pair in the foreign exchange market is unique. But if we carry out some conditional classification of currency pairs, then we can single out those that are prone to trend movements and those that gravitate toward movement within the the outlined range (flat). The second type includes most of the cross-rates: EURJPY, EURCHF, GBPCHF, CHFJPY, etc. And even among...
The current prices (the lower boundary of the medium-term range 110-118) are in themselves the reason for buying a pair CHFJPY. This is a very ordinary transaction within the strategy: "buy from the bottom of the range, sell from the top." In this case, the stops are placed below 109, and the profits are set either in the intermediate level (113 or 116.20) or near...
I was looking at different FX charts last night when I found the Daily tf of the CHFJPY.I had a look at its chart to investigate the development of price action so far. What I found that jumped at me from the screen was this monster double top pattern. The first top of the pattern formed on July 11, 2017 and what is interesting to see here is that the first top...
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Seems like bulls can't break through this resistance level and has made multiple tops as a result. The bullish momentum from which this came from has been made too intensely and the bulls seem exhausted (or some may already be taking profits at this level) as shown by the decreasing volume. Several reversal candle signals are visible such as the Bearish...