USDCHF POTENTIAL FURTHUR UPSIDE OPPORTUNITY (3-5 WEEKS)
Hello everyone! Hope you are having a truly amazing weekend so far! Just wanted to get on here and do a post to provide some value for the upcoming few weeks on some analysis I see for USDCHF coming in the near future! Here we go!
OK so if you look at this weekly chart of data I am sharing you can see right now that the USDCHF has been rising for a couple months now after having a sharp decrease to the downside. Momentum has started to pick up which has led me to believe that the next weekly supply of 0.89800-0.90500 is a good region to see price most likely come up into. Remember these levels work like magnets for price, since they are psychological. This level acted as a strong supply before and probably will do to some degree again as well.
ALSO on the daily timeframe you can see that the price action traits are starting to show some bullish signs as well. With a recent higher low forming on the daily and pushing price higher now breaking highs.
OK so in terms of trading opportunities...each person has their own approach and strategies. But what I would be looking for are some strong demand zones to act as a trampoline for price to send it launching into that upper zone of supply (look for 4H zones) and possibly daily as well. These zones are more significant due to being higher timeframe.
Alright guys hope this all made sense and you guys enjoyed the simple breakdown! Please boost and follow my page for more accurate analysis and trading opportunities!
Cheers!
OK so if you look at this weekly chart of data I am sharing you can see right now that the USDCHF has been rising for a couple months now after having a sharp decrease to the downside. Momentum has started to pick up which has led me to believe that the next weekly supply of 0.89800-0.90500 is a good region to see price most likely come up into. Remember these levels work like magnets for price, since they are psychological. This level acted as a strong supply before and probably will do to some degree again as well.
ALSO on the daily timeframe you can see that the price action traits are starting to show some bullish signs as well. With a recent higher low forming on the daily and pushing price higher now breaking highs.
OK so in terms of trading opportunities...each person has their own approach and strategies. But what I would be looking for are some strong demand zones to act as a trampoline for price to send it launching into that upper zone of supply (look for 4H zones) and possibly daily as well. These zones are more significant due to being higher timeframe.
Alright guys hope this all made sense and you guys enjoyed the simple breakdown! Please boost and follow my page for more accurate analysis and trading opportunities!
Cheers!
Comment:
Slowly and surely moving to supply zone
Comment:
Close to overall supply zone for the higher TF!
Trade closed: target reached:
USDCHF hit overall weekly supply! Cheers!