- VIX is slightly UP, so CHF has become somewhat STRONG with the SNB RATE HIKE. Due to this STOCKS and XXXCHF CURRENCY were slightly SELL. GBPCHF was also SELL because of that. Currently there is a RISK OFF BIAS. Therefore, GBPCHF may sell slightly in the future.
- Currently GBPCHF LONG TERM can move up to the LEVEL 1.1700. Also, according to the GBPCHF...
Price make a nice movement make a bullish channel pattern, already touch the support and make a nice confirmation to so i’ll take a trade on this pair. if you all gonna take a trade to remember always to took your money management!!!
First of all please like this post, follow if you want it, but if you don’t idgaf. as you can see chart make a nice bullish Channel pattern, it will be a long trade but we still need a confirmation candle like long big candle.
if price behaves according to my analysis we have a multiple confluences here with the price action, if we have Head & Shoulder pattern, after the completion of H & S pattern and Trend line breakout we will be looking for bearish momentum to take us back down to the mentioned target.
Respected followers, as we can see that GBPCHF has rejected its trend line on thursday which was support line accordingly trend line. So in this way we can see further upside move in GBPCHF. Reward ratio is 1:2 which is too good.
So, today we check GBPCHF pair and from my view, it looks like there are more downsides than upsides from a technical point of view. While last week was GBP bearish as the candlestick shows, what is of interest is the way that GBP closed. As we can see, not only was there an over-extension to the upside but that inverted hammer is the seal of bears....
There is a likelihood of GBP gaining ground this week especially if today's candlestick is bullish. All we have to remember is that relative to last week, prices are down 80% and on Friday, March 3, some bullish candlesticks printed in the 4HR chart. What is important now is a follow through and rejection of lower lows. If bulls clear Friday's highs in the daily...