USDCHF conforming to some nice ranged support and resistances - expecting a test of resistance above over the coming week with a potential re-test. Longer term we are looking for a change in sentiment to the downside with an overbought TDI market baseline with TP1 and TP2 the lower supports
Looking for a reversal on this pair with the previous bounce of 0.618 fib and looking like a re-test. Also have a head and shoulders developing on H1. Waiting for MA cross as confirmation of change of sentiment.
Looking for the TDI cross which has confirmed on M30 and shorter term MA Cross also confirmed. High market baseline suggesting an overbought currency pair - looking for bearish reversal throughout today
Very overbought market with a week long bullish trend and no breaks. Today may be the day this changes as the H4 TDI is looking to cross with H1 MA Cross from above showing a reversal in trend for the day ahead. Keep an eye on this one.
Looking for a longer term bullish trend on this as we bounce off resistance looking to hit the yellow lines of clustered pricing above. TDI cross on H1 with shorter term MA cross signalling a bullish sentiment.
A longer term trade here looking for a re-test then a bounce off resistance. TDI market baseline still decreasing but flattening showing a possible end to the bearish sentiment on this pair. MA Cross looking like by the end of play today.
A possible TP at the clustered resistance (yellow line). Wait for confirmation on this longer term trade
On a longer term, looking for USDCHF to possibly re-test recent highs, then look for downside towards clustered levels of resistance (TP1 & TP2). TDI on the hour is looking for a potential bearish turn, MA cross on the short term confirmed. Possible trade into next week.
TDI Cross looking bullish in the next few hours. Short term MA currently neutral looking for a confirmation to the upside early this afternoon (GMT). Expecting the to trend sideways with an eventual bullish movement towards the end of the day and possibly continuing into tomorrow.
There is a head and shoulders pattern playing out around the 0.5 - 0.618 fibonacci retracement zone. If as expected we will see a short following the C-D trend line of the AB=CD pattern. This should occur with the MA's crossing over to the down side for a good stretch. 1.7440 should be the next target after this roll over down a parallel channel, then a possible...