We open long trade for GBPCHF
The reasons are:
While we are short-term GBP bears, we remain constructive on the medium-term
prospects for GBP – given our house-view that a politically acceptable withdrawal deal
will be struck between the UK and EU.
Based on the BOE’s latest r* estimates, we note that the term structure of UK interest
rates is around 75-100...
When MPP (P) functions as a resistance line, consider long entry.
First limit: WePP (P) 0.99610
Second limit: 1.00000
Third limit: 1.00400
I would be grateful if you like it idea,give me follow or agrees!
Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line: Monthly Pivot Points...
One of the economic releases of the day was the U.S. Crude Oil Inventories which helps measures the weekly change in the number of barrels of commercial crude oil held by US firms. The way it works is that the amount of inventories helps influence the price petroleum products which can have an encounter with the inflation rates. Traders have got two things which...
Broken rising wedge pattern to the downside on EUR/CHF. 50 sma also broken adding to confluence.
1:2 R/R available if traded on a pull back to the broken resistance line.
More potential downside if next support is broken and the price falls down to its inception point.
Following this uptrend will secure a short buy position in the 60/240 timeframe.
Unless the updated after the US current accounts the position will stand at:
Recently CAD/CHF was in a consolidation zone for quite some time, showing that there's been a moderate level of supply and demand.
earlier on this year CAD/CHF Broke out of that consolidation zone, showing that the demand has no increased, with supply increasing as well, this confirms that CAD/CHF Won't be looking to drop back down to that consolidation zone,...
descending trend line
hit the fib level of 61.8
over 4 types of resistance correlating at the entry price
stop loss over the next higher fib level
4h our bearish
nice easy drop do to most recent low