Good Morning traders,
Taking a look at US dollar and the Swiss franc and looking on a year to date basis we can see a head and shoulders pattern starting to form, which if confirmed opens up significant downside for this pair.
Not only do we have a naked trading pattern forming but we have technicals backing up the trade with multiple indicators pointing to a...
GBP Short Bias
- LogicStrategy Quant score seen consecutive days of economic contraction for Great Britain. (-7) on the 26/03 and (-4) on the 27/03
CHF Long Bias
- LogicStrategy Quant scores saw a huge (+25) shift from 38 to 63 - showing continual swiss strength.
This idea suits the uncertain agenda for the british economy - with the institutions moving cash...
The market currently broke out of an ascending triangle after forming a Head & Shoulder driving market to break the trendline. The market had its first Impulse move with the break of the trendline and currently just concluded its exhaustion as the second impulse move is creeping in to start the big bearish move. JPY is on a ride and gaining against major, minors...
Anticipated to be and corrective structure move on 4hr chart.
Ideal setup would be a break of current support and/or re-test of support turned resistance, then entry strategy for SHORT to next major level.
Simple trend continuation trade on CHFJPY.
Higher lows and bullish trendline with price now rejecting the Fibonacci 0.618 retracement level and TL.
Higher lows showing bullish momentum is still present so there is potential for CHFJPY to now break the resistance level at 112.00 and make a new higher high.
Stop Loss is at 30 pips to leave it below the 0.786
Price has been in a descending triangle on the Daily TF making lower highs, the market broke out of the support area of the triangle with the first impulse move and retraced back to the support turned resistance due to exhaustion as expected. Euro uncertainty worries continue has the Swiss Franc safe-haven status still holding. The retest gave a nice par on the...
This is a trade foe the patient and the cautious trader
We have followed the EUR CHF down from 120 levels and have seen a turn below the 1.11160 level
currently +40 pip[s from there and rising slow
possible retest of the 1.1190 trendline zone