USDCHF - Trend Continuation NOW - MTFA, EMA, Stochastic, ...
Hi Traders!
The market is in a Downtrend.
The Key Areas are:
Category:
- Trend Continuation
- Pullback Trading
- Retest after Breakout
As you can see the Downtrend is also viewable on the H4-Timeframe and
the D1-Timeframe too. That's why a short trade is more at the moment more secure than a long trade.
In the last past days, the market was moving in a descending Triangle.
Then it broke out of the Triangle and the Support at 0.94800.
It moved down and finally back up again.
This Up-Movement can be reasoned due the strong USD against the weak CHF, as shown in the Currency Strength Meter.
Now the market reached the important Resistance again.
This could also be interpreted as a potential Retest.
The indicators show:
- Resistance from the 200MA, it is pushing lower and
- Stochastic Osciallator is overbought, should fall soon.
We recommend to trade the bearish crossover of the Stochastic Oscillator.
Thanks and successful Trading :)!
The market is in a Downtrend.
The Key Areas are:
- Trendline "Past descending Triangle" - descending, resisting
- Resistance @ 0.95300
- Resistance @ 0.94800
- Support @ 0.93800
- 200 Exponential Moving Average - resisting
- Stochastic Oscillator - overbought
Category:
- Trend Continuation
- Pullback Trading
- Retest after Breakout
As you can see the Downtrend is also viewable on the H4-Timeframe and
the D1-Timeframe too. That's why a short trade is more at the moment more secure than a long trade.
In the last past days, the market was moving in a descending Triangle.
Then it broke out of the Triangle and the Support at 0.94800.
It moved down and finally back up again.
This Up-Movement can be reasoned due the strong USD against the weak CHF, as shown in the Currency Strength Meter.
Now the market reached the important Resistance again.
This could also be interpreted as a potential Retest.
The indicators show:
- Resistance from the 200MA, it is pushing lower and
- Stochastic Osciallator is overbought, should fall soon.
We recommend to trade the bearish crossover of the Stochastic Oscillator.
Thanks and successful Trading :)!
Comment:
The RED BOX, but in Big:
