USDCHF / H1 / Technical Chart
if it will break and close above the resistance zone of the lower time frame
Price will move to end of the D point of Bat pattern
Wish you many pips
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If you have another analysis at this pair, please share in comments, I will be glad to discuss with you.
USDCHF is approaching its resistance at 1.0026 (61.8% Fibonacci extension, 50% & 38.2% Fibonacci retracement, horizontal pullback resistance) where it is could reverse down to its support at 0.9995 (horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal could occur.
I believe we are currently awaiting a nice pullback into the supply zone which also aligns perfectly with our 61.8 % Fib level. Should these levels hold I will be looking to go short, and likely holding until our demand zone is met. Roughly 0.9800 would be our target for just over 200+ pips.
Hello Everyone!
Looking at the lower time frames USDCHF is making new lows and lower highs, so far price has reached mutli-sessions downtrend line where I see hidden divergence, there are possible 2 cases here,
Case 1:
Market may fell and makes a double bottom and then carries on testing prior highs, so in this case execute trade once it breaks the trend...
USDCHF is approaching our first resistance at1.0026(38.2% &50% Fibonacci retracement , 100% Fibonacci extension , horizontal overlap resistance) where we might see a drop in price to our first support at 0.9982 (100% Fibonacci extension , 61.8% Fibonacci retracement, horizontal swing low support ).
Stochastic (55,5,3) is also approaching resistance and we might...
Sell USDCHF is 98% possible.
The price is rejected at the resistance level where sellers are really strong.
Making a raging Market, USDCHF is going down trying to target out TP: 0.99990
You can have a great overview of the analysis.
Enjoy!
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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