Apround the 13th March the price of USD/CHF broke through the key 200 EMA on the H1 time frame. Around the 20th March, the price returned to the 200 and this acted as solid support.
AT the end of last week, we saw the price return to the 200 and make several attempts to break through. Although these BEARISH breaks were successful they were met with determined BULLISH replies and price moved back above the 200 but did not make any further progress north.
A look at the charts currently (13:30 9/4/24) sees the price of USD/CHF being squeezed back under the 200 by the 100, 50 and 25 EMA.
This is significant.
This indicates that USD/CHF are losing the battle to holf the 200 and I~m now in SHORT from .9040.
Currently (on H1 time frame) the 25 50 and 100 EMA's are reading .9018/.9021/9016 and I expect/anticipate that we'll see the 25, 50 and 100 EMA's begin to cross over each other (south) and in an hour or two we will see the faster EMA's start attacking the 200 which would be very BEARISH for USD/CHF.
Adding to this anlaysis is:
a). price is now under the 200 EMA.
b). RSI declining
c). Fast and slow MACD lines crossing south over the zero line
d). Andean Oscillator red SELL line rising as the green BUY line declines.
All in all its hard to see where USD/CHF can go other than south from these levels.
AT the end of last week, we saw the price return to the 200 and make several attempts to break through. Although these BEARISH breaks were successful they were met with determined BULLISH replies and price moved back above the 200 but did not make any further progress north.
A look at the charts currently (13:30 9/4/24) sees the price of USD/CHF being squeezed back under the 200 by the 100, 50 and 25 EMA.
This is significant.
This indicates that USD/CHF are losing the battle to holf the 200 and I~m now in SHORT from .9040.
Currently (on H1 time frame) the 25 50 and 100 EMA's are reading .9018/.9021/9016 and I expect/anticipate that we'll see the 25, 50 and 100 EMA's begin to cross over each other (south) and in an hour or two we will see the faster EMA's start attacking the 200 which would be very BEARISH for USD/CHF.
Adding to this anlaysis is:
a). price is now under the 200 EMA.
b). RSI declining
c). Fast and slow MACD lines crossing south over the zero line
d). Andean Oscillator red SELL line rising as the green BUY line declines.
All in all its hard to see where USD/CHF can go other than south from these levels.
Trade closed: stop reached:
The CPI numbers coming in green gave a huge lift across the board for all USD pairs with GBP/EUR and AUD in particular selling off savagely.
I had a b/e stop on this trade before the news so no damage done.
I had a b/e stop on this trade before the news so no damage done.