The Tory Government in self destruct mode again causing Asian trades to dump the £ last night
On GBPCHG we are siting in a lovely position to run to the next feb level.
Have a great week - hoping this one isnt as ZZZZZ as last week
LONG TERM THIS PAIR WILL SEE SOME DOWN SIDE PLAY OUT. ELLIOT WAVE IS IN PLAY WITH THE CORRECTIVE PHASE NEXT, PAIR THAT WITH A WEEKLY HARMONIC AND YOU HAVE SOME MAJOR PIPS
The price bounces from the support zone formed by SMA100, the uptrend line and 1.30700 support level. RSI confirms price reversal. MACD supports upward movement. DMI allows to open long trades. We have buy opportunity. Entry level is 1.31500 with stop at 1.30200 level. Profit targets are 1.33100 and 1.34900 levels.
Here I have analyzed an opportunity to take a short position on the GBP CHF currency pair due the the economic data soon to be released in France this morning. I have place my trade entry here at the 1.30750 level and we should have a selloff from this point on
GBPCHF broke the moving average, suggesting a potential trend change. This in tandem with October's monthly bull candle gives me enough reason to believe an up trend is about to begin.
My orders are placed at fibonacci retracement levels 1.0, 78.6, 61.8, 50.0, 38.2, 23.6. and 0.0.
Each order contains a 30 pip stop loss and no take profit target.
These trades...
Last week the GBPCHF sold off due to Bank of England data and we look for further declines as a possibility this week. Price is in the process of forming a Bear flag with a further correction, potentially to broken support turning resistance at 1.31809, providing a great place to look for Bearish patterns for shorts down to the targets of 1.29883 and 1.28748 respectively.
GBPCHF has for the last month and a half been trending bullish due to a strong demand price level on the daily chart .Im rather neutral on the future play of the pair i've noticed a bearish flag on the daily and my 20 & 50 ema are ready to cross signaling bearish momentum on the 4 hour time frame .
I need further confirmation for a bearish trade. Another...
Good afternoon,
I hope you guys are enjoying your weekend.
I will be shorting the pair for 50 pips if prices break and re-test M15 trend line (as shown in my chart).
Please feel free to comment/like my ideas!
Cheers
Jesse
GBPCHF has formed a bearish engulfing pattern on the daily time frame.
This short setup is confirmed with a strong upper Bollinger Band outbreak, a significant bearish engulfing pattern, and RSI divergence.
SL set above previous highs.
TP set slightly above strong support.
I will close this trade upon the first opposing significant bullish engulfing...
Today at approx 2:45am EST the CHF will be releasing some economic data regarding the consumer climate (SECO) which is important and can effect inflation. I see an opportunity to take this part short as it will boost the overall strength in the CHF currency, and we already know base don the economic conditions in Great Britain the GBP is weak
Price broke out of its daily channel where price was in consolidation for some time. We may now resume in an uptrend making higher highs & higher lows.. I saw this a bit late & will look to enter during GBP News at 1:30 am (PST).
