USDCHF is approaching our first resistance at 0.9955 (horizontal pullback resistance, 23.6% Fibonacci retracement) where price might potentially fall to our support at 0.9856 (horizontal pullback support, 23.6% Fibonacci retracement) which coincides with the short term ascending support line. RSI is also facing bearish pressure as it is approaching its resistance.
USDCHF is approaching resistance where we can expect a strong drop.
Sell below 0.9951. Stop loss 0.9992. Take profit at 0.9856.
Reason for the trading strategy (technically):
USDCHF is approaching our resistance at 0.9951 (horizontal pullback resistance, 23.6% Fibonacci retracement) and we expect price to drop below this level to our support at 0.9856...
USDCHF is approaching our first resistance at 1.007 (horizontal overlap resistance, 50% Fibonacci retracement) which coincides with our short term descending resistance line. A strong reaction might occur below this level, pushing price down to our major support at 0.9957 (horizontal swing low support, 100% Fibonacci extension.
RSI (89) is also testing our major...
Our long is doing great. I hope we will reach top of our mid-term channel soon.
As you can see on this chart, we are at the top of our short-term channel, so I guess market will go little bit down. If it will reach short-term channel bottom it will be great opportunity to build bigger long position.
This chart is related to my previous analysis. Click below...
USDCHF is testing our first resistance at 0.9714 (horizontal overlap resistance). A strong reaction might occur below this level, pushing price down to our major support at 0.9647 (horizontal pullback support) which coincides with our long term ascending support line.
Stochastic (89,5,3) is also approaching our major resistance and we might see a corresponding...
As you can see, SMA20 was quite good support and resistance at short-term trends, so if our chart wont cross SMA20, I will try to open long position.
My game plan is to keep L to channel top. I don't like to loose money, so I will quit trade if candle will close below SMA20, and then I will look for other opportunity - maybe I will buy again above SMA20 and...
USDCHF is approaching our first support at 0.9576 (horizontal overlap support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) which coincides with our short term ascending support line. A strong bounce could occur above this level, pushing price up to our major resistance at 0.9639 (horizontal swing high resistance). Ichimoku cloud is also showing signs...
Buy above 0.9608. Stop loss at 0.9570. Take profit at 0.9712.
Reason for the trading strategy (technically):
USDCHF is being held in its bullish channel where we look to buy on weakness at 0.9608 (61.8% Fibonacci extension, 50% Fibonacci retracement) where we expect prices to rise to its resistance at 0.7124 (61.8% Fibonacci retracement, horizontal overlap...
USDCHF is testing our first support at 0.9578 (horizontal overlap support) and a strong bounce might occur above this level, pushing price up to our major resistance at 0.9667 (horizontal swing high resistance, 61.8% Fibonacci extension).
RSI (55) has also bounced off its major support which might be a good precursor for a potential rise in price.
Trading...
The DollarVSFranc is currently in a 3+ year consolidating structure at the 61.8% fib retrace level from a previous high back in 2015 on the Monthly chart. Currently on the H4 chart the fib retracement level is at an exact merge with the fib retracement 1D chart (50%vs61.8% respectively). The previous upward trend had climbed to the 80+% level before correcting to...
We may just see a massive break to the upside with with pair chasing that 50% Fibonacci retracement level with expected confluences at that 1.13600 - 1.50000 level(38.2/78.6 % Fib Retaracement). Now this contradicts my long term bullish analysis on gold but which ever set up fails breads opportunity to jump onto the other.
USDCHF broke out of its ascending support-turned-resistance line and is testing its resistance at 0.9578 (38.2% Fibonacci retracement, 23.6% Fibonacci retracement) where we expect to see price push all the way down to its support at 0.9525 (horizontal swing low support). We do have to be cautious of the intermediate support at 0.9553 (76.4% Fibonacci retracement)....
USDCHF is testing our first resistance at 0.9599 (horizontal overlap resistance) and a strong reaction might occur below this level, pushing price down to our major support at 0.9525 (horizontal swing low support). A breakout below our intermediate support at 0.9566 (horizontal overlap support, 38.2%, 61.8% Fibonacci retracement) might provide the bearish...
