BUY @ 0.73000
Sl @ 0.72400
Tp @ 0.75500
Expecting CHF weakness soon. Price has been within the parallel channel ( black line) since March 2020. For safe entries, wait for a break of the dashed trendline. Price has also been respecting the 50 day EMA on the 30minute timeframe so you want to wait for a nice bullish close above that for confirmation.
SELL @ 1.22500
Sl @ 1.23100
Tp @ 1.19000
Price didn't push up last week to reach our entry but has reached our TP level and pushed back up since (check related ideas section below). We are seeing rejections off the parallel channel, expecting further weakness as we should see DXY strength soon which should help push this down. We do have an important GBP event...
Price pushed above trendline on Friday following the Nonfarm Payrolls report which was 528,000 beating the 250,000 expectation (previously 372,000). Unemployment rate was also lower @ 3.5% from 3.6% previously. Average hourly earnings came in @ 0.5% which was expected to be 0.3% (previously 0.4%) which kept the YoY rate unchanged @ 5.2% rather than the expected...
SELL @ 104.620 (.618 fib)
Sl @ 105.200
Tp @ 101.000
Expecting CAD weakness & JPY strength.
Price has broken trendline and is currently retracing. Expecting a rejection off the .618 fib followed by a break of trendline.
For safest entries, enter on the break of the dashed trendline.