The SNB's hand is forced with the ECB sidelined. Markets are likely to want to test ECB willingness to shift into easing mode again so the dollar remains the only game in town. From a technical perspective here we are trading the final leg in this large ABC sequence. Best of luck all.
Awaiting trendline bounce, TDI bandbreak and rejection of resistance/800EMA
Here we have a very nice opportunity to short GBPCHF for a few reasons: 1. After making a retracement to the .5 Fibonacci level , price has consolidated into an ascending wedge. 2. Furthermore, the structure of the larger, blue descending wedge is also providing a second level of resistance. 3. Finally, RSI is displaying clear divergence in the local uptrend.
hey guys, dollar swiss is standing on a significant level of support after a selloff from 1.012 level. finally, breaking multiple support levels, the market reached oversold condition, and we see a formation of a reversal pattern on a lower timeframe. I consider the ascending triangle in a bearish trend to be very important reversal pattern, that lets you...
On the weekly chart, I see price heading towards resistance zone and it's retested it three times creating this triple top. Diving into the 4hr/1hr chart, I also see price creating a rising wedge which is confirmation with the triple top that was created.
As you can see above, i have found a wedge pattern forming on the graph which has successfully broken out and even retested the resistance which has turned into a support. i believe that from my entry the pair is likely to retrace to .99288 and then once again bounce as this seems to be a fairly strong resistance in the past; this would also match the relationship...
Over the last several weeks, we have been watching the CHF/JPY pair as we continue to bounce around in a symmetrical triangle. This is going to be a very interesting pair to watch as both are considered to be “safety currencies”, and as a result you can watch this pair to decide which currency you should either buy or sell based upon risk appetite in other...
On the technicals it is a simple AB=CD leg in play to the downside, a break of 110.4 will open up the remainder of the move. For the macro side we have seasonality flows going on. Fiscal year end repatriation moves back to Yen, we are right on time for a mid-march kickoff... something those from the forex channel will know we have been tracking for some time. Good luck
Although we are seeing a long-term rising wedge form, the fruition of a downturn at the end of the wedge is still some months into the future. In all liklihood, we still see a bit of an upward movement given how overcrowded the short trade is according to the bull bear oscillator. A trading week is five days which is why I used 5 day RSI to highlight how poorly...
Hi there. Price is forming a continuation pattern to the upside. Watch strong price action at the current price for buy.
Looking for the retest of this trendline and I'd like to see price drop. We also have a double top reversal pattern
Buy CHFJPY for wave 5 completion ( NOT ELLIOT WAVES ). 2 targets placed as shown.
The 1.03000 level holds the key for this pair to reverse or continue trending northwards. As the price will likely approach the crucial 1.03000 level which has been respected on many on occasions, it is favorable for many traders to take advantage of this situation and possibly reap huge profits target with minimum stop loss. However keep in mind the certain...
looking at the structure of the swiss, selling might not be the best option right now. with price very low into the squeeze and price in weekly demand (tested) might see a stronger swiss over the next bit on the higher time frames. its important to know who is taking the opposite side your your trade.