There is a linked chart showing the daily cycles. The break of the trendline last week showed buyers trying to take back control. Divergence on the 4 hour both on the histogram and Ma's confirms the move to the upside. I would like to see the high broken then enter on a pull back. see the daily chart for overall target.
many traders out their when they look into the weekly chart of USDCHF find it attractive since it never bounced in a corrective manner nor impulsive, and i agree long term there is still more room to go up.
but short term i still see some pressure from the DXY on this pair and we might target 0.8500 level before turning bullish again!!
Good luck!!
Trading CAD short and taking this safe haven for today with 1% risk.
Entry: 0.68927
SL: 0.69354
I'm not a financial advisor, if you seek financial advise please find one within your area.
My FX portfolio currently consists of :
- 2Long x USDJPY @ 106.8; 2Short x GBPJPY @ 151.2 (dynamic hedge for long UJ); 2Short x GBPUSD @ 1.4570. I will add to my short GBPUSD holdings if i can get a similar price & I may add to short GBPCHF or EURCHF downside if markets make a turn for the worst as IMO CHF denominations are under-priced relatively (as discussed...
An analysis of which LONG has the best value against the short GBP to play the Brexit. [
- GBPUSD has a target handle of 1.385.
- GBPJPY target handle at 1.483.
- GBPCHF target handle at 1.335 .
- IMO currently i rule out GBPUSD short, as USD doesnt have the same "risk-off" demand as CHF and JPY. Also USD and GBP economies are perhaps the most highly...
