We see the price fall from the resistance at 1.0065 and move down to 0.98 level
Take Entry @ 0.99450 Take Profit @ 0.99450 Stop Loss @ 0.99900
Buy above 0.9958. Stop loss at 0.9900. Take profit at 1.0044. Reason for the trading strategy (technically): Price has broken our long term descending resistance-turned-support line signalling a change in momentum to bullish. We turn bullish above 0.9958 support (Fibonacci retracement, horizontal overlap support, pullback support) for a push up to 1.0044...
Short term trade Entry: 0.99140 TP: 0.98651 SL: 0.99900 Best of Luck !!
0.985 - important strong support level Bearish scenario: daily close below 0.985 will open the way to 0.97 (200 EMA on Weekly time frame, long term uptrend line). Bullish: reversal around 0.985-0.99 and close above 0.995 - profit targets at 1.004, 1.0155 and 1.0345 Situation similar and correlated to DXY.
We will take short position @ 0.9975 with profit taking @ 0.9820 - Let's see !!
Moving its big belly over the EMA10 as the last trend line, it signals a long position to me. A lot of politics is going on currently. That's why USD needs to be traded carefully these days. Go in this one with a minor position.
This is only a trading capability - no recommendation !!! Next week i`ll confirm or change my opinion about this SetUp :) Buying/Selling or even only watching is always your own responsibility ... Best regards Aaron
TRIPLE FLAG FORMED AND AS WE CAN SEE IN THE PAST IT ALWAYS WENT UP AND UP AFTER FORMING THIS KIND OF FLAG! SO I AM WAITING TO MAKE THE SAME MOVEMENT AGAIN AND WAITING FOR A TP @ 1.03500
A potential good swing setup. After recent bullish trend, there is 1 pull back bar and followed by a bullish pin bar. Good to entry with R/R of 1:2 EP: 1.01557 SL: 1.00646 TP: 1.03050
USDCHF has under-performed in the broad USD rally. Interest rate differentials for both 10 and 2y maturities imply USDJPY should trade above parity. CHF remains a risk sensitive currency but the magnitude of the moves are smaller than for the JPY. Expectations for fiscal easing in the US are helping the USD and risk appetite, which is good for this currency...
SUMMARY: The USDCHF pair bounced slightly during the course of the day Wednesday, using the 0.9733 level as support. At this point in time, the market is looking bearish. The primary trend of USDCHF is bearish on charts and price is trading below its support trend line in its hourly chart. In its daily chart the price is sustaining below 100 day SMA that are...
I hope in post itself I explained everything about the breakout trade setup in USDCHF, if any explanation needed , feel free to leave a comment. Happy Trading !
Reversed at turncoat area, we have a broken trend line, either way for a retest of the trend line or buy with a large SL around the turncoat area.