Both the Diamond pattern or setup and the head and shoulder pattern or setup are major reversal setups. Therefore in this analysis we have a combined reversal setup both happening together. This indicates that we are ready to move into a strong bullish trend. In this usdchf outlook We set our long orders above the current price expecting the trend reversal soon....
Technical Overview: - USD/CHF
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Price was moving inside a parallel channel and today it broke the bottom trend line or resistance line of the channel. We'll be expecting to see a downtrend movement to the determined resistance levels.
Looking forward to go long on USDCHF because the previous candle in the daily time frame closed as a bullish engulfing and also price has failed to break below support lines. The imbalance in price from 16th and 17th June respectively has been cleared. I expect price to move to 0.91150-0.91300 before it will continue to sell.
We sell this pair because there is a strong resistance above. We know what we are doing and we do what the market is doing. This is more than an institutional analysis. Invest wisely. Wish you more success.
We buy this pair because there is a strong support below. The entry and exit levels have been indicated on the chart. We know what we are doing and we do what the market is doing. this is more than an institutional analysis. We wish you more success. Invest wisely.
Hey traders, here is the analysis for the USDCHF. Let me know if you guys have any questions in the comment section. If you guys like my analysis please hit like. Thanks. NOTE - Please do your own analysis before taking the trade.
Based on the price action in USD/CHF, it seems that it will decline soon.
Price did a false breakout of the 0.9235 resistance level and could not hold above it.
So, it is quite likely that a deeper pullback may occur. We are already holding our shorts
from 0.9230 level with target at the 0.91.
For traders looking to enter fresh sells, you can enter sell trade...
USDCHF pair has formed an ascending channel on M15 timeframe
We're waiting now for ma momentum candle to close below our last touch of the lower trendline to enter a sell position
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#USDCHF Analysis in H4 timeframe.
The market will be going for a bullish move reason behind this move are
1) Previously market has formed a bull flag and made a bullish impulse up to falling resistance.
2) After touching the falling resistance market fell and formed a correction.
3) In the correction zone we observe a double botto m so there was a...