After we manage to catch the short trade from the based zone and targeted the demand area, now we are looking to go long only if we see further rejection within the demand zone.
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Traders! if you like my ideas and do take the...
Price might retest the support become resistance area. Apart from the price action, we can also see the divergence between RSI and price where RSI increases while price continue to move down.
Interim wave may be over, as assumed earlier, as we have got a structure 3-3-3 (potential wxy - a continuation pattern).
hard to project, but the feeling is that it should go up for a couple hundreds pips.
Just in case
- Medium term outlook remains neutral as USDCHF is staying in range of 0.9659/1.0237.
- A break of 0.9695 support will target 0.9541 closes support.
Regards, GoldfXcc Team
Market Commentary:
If the trend is upside or in downside i will inform in the chart and there will be a PB can occur and some correction may start so MIND that DONT TRADE THE CORRECTION and what i am expecting the CORRECTION....Wait for the PB ends...and give entry in the trend side...If u r doing the PB and correction u will took loss ....trade only in trend...
Yesterday, UsdChf broke the important support at 0.9850
The pair could continue its fall to the next important support at around 0.97 zone
Strategy:
Sell the market
SL @ 0.9870
TP @ 0.9720
Price reversed from supply zone and broke out of ascending trend line lined up with demand/support zone.'
Price has potential to retest zone and make a bearish continuation move.
Awaiting bearish corrective structure of lower timeframe for confirmation of trade.
hey friends, I think we're having a triangle in USDCHF that created a consolidation, besides price could break a good support zone and I think a pullback is completed. so we can expect the price to breaks down BUT wait until it breaks the triangle and decide what side you need to join.
Keep in mind that there is important news for CHF today.
What do you think?...
The USDCHF, also known as the “swissie” is the fifth most traded currency in the Forex market. It is considered to a safe haven pair due to its stability and neutral character of Switzerland and is a reserve currency used by markets worldwide.
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