The 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...
Due 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...
Hi traders: A nice short trade on CADCHF, as the 1 hr chart broke down support trend line, now looking for a lower high to develop to form to take it for a 1:1 risk reward trade. Thank you for your support and feedback.
Time for a push higher? Price tried to break below support level but failed to do so & shot back above. If support holds I believe this pair will go higher. Not many supply zones in the way can this pair reach 1.18 ish area?? Entry after break of counter trendline.
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...
Price at support again, looks as if a possible shooting star is forming hitting the 61.8 level. Watch for break of trend line & "Key" Support level before considering going short !! Trade with care
Recently 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....
Hi traders: On AUDCHF, we can see the price action hit the daily resistance of 0.7735, and broke down the support trend line on the 4 chart. Waiting for a pullback to form a lower high is a good idea to short to the daily 61.80%. Thank you for your support and feedback. JoJo
We are in a range and i can see good support at this level. Price also tried to break above resistance but failed to do so. now it has pulled back and we seem to have grabbed enough momentum off the current support to break the upper resistance. sl can also be placed under psar.
Price was in consolidation for quite some time & finally broke though support. Now looks as it is retesting broken support and is now becoming resistance. I am personally waiting for a break of that red counter trend line before entering short. Watch for some strong bearish movement... Possible longer term opportunity! Lets watch how price action plays out : ) I...
Good evening, After a tremendous run, the CAD/CHF currency pair is showing some notable technical reversal signs. With both the MACD and RSI turning over compounded with the fact that the euro trade is getting incredibly crowded, this is looking like a great time to get short. Thoughts?
The US Dollar is regaining ground against the Swiss Franc in a channel up pattern. Most recently the currency pair bounced off the resistance of the ascending channel. That event was also the cause of the discovery of the pattern. Most likely the currency exchange rate will decline until it meets with the lower trend line of the ascending channel. Coincidentally...
Canadian swiss franc has two major horizontal levels. Price action looks like it might break horizontal level upwards and range between 7300-7700. It's had a very nice bullish run this week, however, it is important to wait for the daily candle to close above the horizontal resistance. RSI has reset and still has more room to move upwards. It also broke the...
Pullback to previous resistance after break becoming support. Looking for a retest to zone then a new higher high should be formed.. Nice clear uptrend
Hi everyone: AUDCHF is on my weekly watch list for short, and today we are seeing an opportunity. Price action formed a lower high on the 4 hr chart, and a breakout of a rising wedge to the downside will give us great risk:reward trade. On the daily time frame we know that price action has retrace to 61.80%, daily lower high which confirms the bearish momentum....
With 0.9500 holding strong, i foresee she will bounce up to previous resistance level before heading south again.
Hi traders: Here we have a quick opportunity to go short on NZDCHF. I am bias on bearish on all NZD pairs, and NZDCHF is one of them that gives a clearer entry point. We are seeing a nice bearish flag pattern developping on the 1 hr chart, and potential targeting the recent lows. TP1: 0.6965 TP2: 0.0625 Thank you for your support and feedback.