TheBanker
Short

USDCHF Market Analysis and Trading Tips 11th August 2016

FX:USDCHF   U.S. Dollar / Swiss Franc
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 appears on the above image indicating downtrend of the pair. It is having an important resistance at the level of 0.9775 Support at the level of 0.9733. If it breaks its support level on the downside and sustains below it then we can expect it to show further bearish movement in the pair.


INDICATORS:-

MACD is sustaining in its negative territory indicating the bearish trend in the pair.
RSI is sustaining in its selling zone indicating the upcoming negative trend in the pair.

STRATEGY:
USDCHF is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions in it.


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Trade active
Comment: for those following, stops at breakeven
Trade closed manually
Comment: +20 pips
Comment: early close and already we're moving bullish, makes me feel happy - now to draw the path out again.. hope you guys made a few on this at least
Trade closed: target reached

Comments

Thank you Banker. I always follow your Ideas. God Bless
+1 Reply
thank you Jal :) All the best!
Reply
Just started following :) Amazing work!
+1 Reply
TheBanker keikotrading
thanks for your kind comments
Reply
Appreciate your analysis more. Meanwhile, are you minimalist? :)
+1 Reply
TheBanker geniustrading
thank you, and yes less it more as they say! :)
Reply
well done !
Reply
How come an early close if I may ask? :)
Reply
TheBanker Gluckmann
dollar relief seems to be stopping, don't like the PA on this anymore
+1 Reply
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