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AUD/CHF 4H Chart: Meets Resistance The Australian Dollar is trading against the Swiss Franc simultaneously in two ascending channel patterns. One of them is a dominant one, while the second one represents a rebound in the borders of the larger pattern. Recently the pair revealed junior pattern after a bounce off from the resistance near the 0.7720 mark. It has to be mentioned that the junior channel’s trend lines seem to be indicating only an approximate zone of week strength. The trend lines on their own do not seem to poses the needed strength to change the direction of the pair. In general, in the near future the currency exchange rate is likely going to decline down to the supports levels just below the 0.7670 mark.
Long
by UnknownUnicorn890690
EUR/CHF 4H Chart: Fibonacci rebound The common European currency has recently formed a narrow ranged ascending channel pattern against the Swiss Franc on the four hour charts. The reason for the formation of the channel was a rebound against a Fibonacci retracement level. Namely, after reaching a new high level the Euro began a retreat against the Swiss Franc and eventually plummeted in the second half of September. By using that high level as the 00.00% Fibonacci level and the 2017 low level as the 100% mark, one could have predicted that the pair will rebound against the 1.1388 mark, where the 23.60% retracement is located. Meanwhile, in regards to the short term, the pair is set to approach two pivot points until it makes another attempt at the 2017 high level.
Long
by UnknownUnicorn890690
CHF/JPY 4H Chart: Reaches Long Term SupportThe previous forecast for the Swiss Franc against the Japanese Yen lasted only in the short term. On a medium scale a medium term resistance line showed enough strength for the pair to descend in a new pattern. Most recently the descending channel pattern has reached a massive scale long term support line. The line is strengthened by various levels of significance that surround them. Below it the weekly and monthly S1s are located at the 114.40 mark. Just above it, at 114.70 level, the 23.60% Fibonacci retracement level is located at. All of these levels together with two clusters of resistance at 115.00 and 115.40 are likely going to squeeze in the pair.
Long
by UnknownUnicorn890690
AUD/CHF breaks long term patternThe Australian Dollar recently marked another bounce off from the resistance of the 2017 high level against the Swiss Franc. As a result a medium scale channel pattern has formed. The descending channel managed to break through the support of the previously active large scale pattern. Most recently the Aussie made attempts to regain its losses. However, the pair failed to rebound, as the previously active patterns support acted as a resistance together with the weekly PP and the 55-period SMA just above the 0.7619 mark. Due to the combination of the minor factors it is expected that the pair will decline down to the 0.7558 level, where the weekly S1 and the 61.80% Fibonacci retracement level are located at.
Short
by UnknownUnicorn890690
CHF/JPY about to break outThe situation on the CHF/JPY currency pair is hard to understand at first glance. However, if one keeps it short, the currency rate is surging in three various ascending patterns simultaneously. Although, in accordance with the patterns the currency pair is about to experience a period of rather flat trading or a surge. The reason for that is the fact that an ascending triangle pattern has been formed during the recent weeks. The rate is either going to fall down to the 114 mark, where close by various levels of support are located at, or surge up to the 115.50 mark, where the weekly R2 is at.
Long
by UnknownUnicorn890690
USD/CHF long term long outlookRecently the US Dollar reached historical low levels against the Swiss Franc. However, after flirting with the low level below the 0.9450 mark the currency exchange rate has rebounded. The historical low levels where consistent with the massive scale descending channel pattern's lower trend line, which is a clear signal for a long term surge. The rebound is occurring in a recently mapped ascending channel pattern, which is a medium scale representation of a larger move. The larger move is a descending pattern, which is almost parallel to the most dominant pattern. Meanwhile, its trend lines are consistent with the Fibonacci retracement levels of the recent year low and high levels. In regards to the short term, the pair is most likely going to decline to the 23.60% Fibo at the 0.9650 mark and afterwards once more approach the 0.9715 mark, where the weekly R1 is located at.
Long
by UnknownUnicorn890690
3
Longer term idea for the EuroSwissA longer-term bullish idea on the EURCHF - D1 - This pair looks to have recently broken out of a trading channel to the upside, I'd ideally like to see some sort of pullback to re-test the top of the channel & possibly the bullish trend line before looking to get long. Ultimately there is some Fib confluence in the yellow area on the chart, which also happens to line up nicely with the area the EURCHF was trading prior to that snap decision by the SNB in 2015 to de-peg the franc - this would be my target area to take profits on this trade should it play out of the coming weeks/months. Let's see how it plays out!
Long
by bmck1
EUR/CHF might decline until 2018This the full review of the EUR/CHF pair. Updates will be posted from time to time, as the need arises for them. The common European currency recently stopped its short term decline against the Swiss Franc, as it found support in a medium term ascending channel. However, the rate still should decline. The reason for that is the fact that the currency rate has not met the lower trend line of the most dominant pattern. It occurred due to the last recent rebound against a dominant pattern, which represents a large scale descent to the just mentioned most dominant support line. In general, the situation has to be watched, as it develops, as the rate might be stagnating due to the expectations of the ECB rate announcement.
Short
by UnknownUnicorn890690
USD/CHF - Buck loses and will looseDue to recent fundamental events the US Dollar has plummeted down to the lower trend line of a channel down pattern against the Swiss Franc. Moreover, it has fallen once more below the 2016 low level. As the move occurred due to fundamental events, market participants should still look out of a breaking of the channel down pattern. However, if a rebound occurs, it is most likely still going to be a descending one, as the rate would face the resistance of the 2016 low level and the weekly S2 at the 0.9460 mark. In that case the pair would fall as low as the 0.9368 level, where the third weekly support is located at.
Short
by UnknownUnicorn890690
EUR/CHF 1D Chart: Channel UpThe common European currency has reached a critical point against the Swiss Franc. The point can be best observed by drawing patterns on the weekly chart and examining them on the daily chart. It can be seen that during the last surge of the Euro against the Franc the currency exchange rate has reached the combined resistance of a two year old ascending channel pattern and a junior channel up pattern at the 1.1520 mark. Moreover, the resistance cluster is strengthened by the weekly R1. Either the pair will bounce off the resistance and decline down to the 1.1274 level, if the dominant pattern holds. On the other hand a break of the channel might occur, which would press for a full review of the pair for the purpose
by UnknownUnicorn890690
EUR/CHF Channel DownDue to the high trading volume on the Swiss Foreign Exchange Marketplace, it was decided upon doing a short review of the technical situation on the EUR/CHF currency pair. It can be observed that the pair is dominantly trading in two ascending channel patterns. The pair encountered the combined resistance of the channels at the start of August. As a result of that move a descending channel revealed itself in the following weeks. Most recently the pair encountered the resistance of the channel down pattern. That means it is likely going to bounce off it and retreat first to the 1.1370 level and afterwards to the 1.1280 mark.
Short
by UnknownUnicorn890690
2
SSMI (Swiss Market Index) LONG setup (H1/H4)Hi, traders! Swiss Market Index* INDEX:SSMI formed the bullish wave and appears to be ready for take off to point 6. This potential move is being supported by RSI divergence as well as significant volume at point 5 (unfortunately not available here, but I can see it in my terminal). It is also worth noting that internal structure of the wave is being enhanced by already completed minor bearish yellow WW. Good luck and profitable week!
TVC:SSMILong
by OceanBlue
USD/CHF 4H Chart: Channel UpRecently the US Dollar encountered a support combination of two notable levels of significance against the Swiss Franc. The support consists of the 2016 low level and the lower trend line of the dominant channel down pattern. As a result of the rebound a medium term ascending channel has formed itself. However, its lower trend line has not been fully confirmed. Although, on Friday the proposed support line of the pattern was located exactly at the monthly S1 at 0.95, which gives it some credibility. Due to these factors combined, it can be assumed that the pair will pass the support of the monthly PP at the 0.9613 level, and decline to the just mentioned combination of support at 0.95.
Short
by UnknownUnicorn890690