USDCHF has broken out of the descending trendline where it also re-tested last week. This is highlighted by the yellow boxes which indicates bullish momentum can be anticipated.
Currently Price is about to break that dark grey box and should it break, Im looking for around a 150pip gain trade with a expected target of around .9660
***Most people will refrain from trading the NZDCHF due to increased margin requirements since January on top of the structurally-large spread on such a cross.
The technicals of the NZD/CHF are really interesting right now as prices have bottomed out since the end of last week with a daily support at 0.626. The SNB has once again intervened in the Swiss Franc...
EUR/CHF - H4 Chart - Gartley Pattern
Here on the H4 chart of EUR/CHF we have a nice Gartley Pattern setup.
With a deep D leg completion giving us nice risk reward and a strong reversal zone.
We must see a completion at D leg before any long entry is triggered.
- SL must go below X
- Target 1 at 38.2% retracement
- Target 2 at 61.8% retracement
Good luck.
Watch USDCHF for a break out of a forming wedge pattern. Our algorithm has not confirmed as it's calling for a period of consolidation on the 1H chart. Price action will ultimately determine which way we trade this pair unless the algorithm gives us an indication ahead of time. We would like to see prices at least 10 Pips above the top wedge line or 10 Pips...
PRICE RETRACED UP TO MY SELL ZONE FORMING PIN BAR THEN SLAMMING RIGHT BACK DOWN. ALSO IN CONFLUENCE WITH THE 61.8 FIB FROM THE DOUBLE TOP. RBA STATED THE CURRENCY IS STILL OVERVALUED AND NEEDS TO BE LOWER SO THIS SHOULD WEIGHT ON AUD WHILE CHF HAS GAINED STRENGTH MOST LIKELY BECAUSE ITS A SAFE HAVEN CURRENCY.
TWO SCENARIOS. PRICE IS BACK DOWN AT SUPPORT WHERE IT HAS BEEN REJECTED A NUMBER OF TIMES. PRICE COULD BE CAPPED AND IT COULD POSSIBLY GET REJECTED AGAIN AT THIS LEVEL. ALSO ON THE DAILY PRICE HAS APPROACHED THE 200SMA WHICH COULD ACT AS A DYNAMIC SUPPORT. ON THE FLIP SIDE I WILL LOOK TO SELL IF PRICE BREAKS THIS MAJOR SUPPORT BARRIER WHICH IS ALSO THE SUPPORT OF...
Back in July 2014, price broke out of a falling wedge pattern, found resistance at the 1.000 level and following the unpegging of the Swiss Franc, retested the backside of the wedge this January. Since this event market sentiment on the dollar has been incredibly bullish, pushing price through the parity resistance within the last week.
It has since been failing...
WAITING FOR A BREAK OF TRIANGLE THEN TARGET 1.10. SNB (SWISS NATIONAL BANK) SAID THEY WANT EURCHF PAIR AT 1.10 SO CHANCES ARE SNB WILL INTERVENE TO TRY AND GET IT UP TO 1.10. GREAT RISK TO REWARD ASWELL 1:3
The Swiss franc is lower on the day amid speculation that the Swiss National Bank (SNB) will intervene in the foreign exchange market in order to actively weaken the currency.
As you can see by the comparison, gold tracks the Swissy rather closely. Interestingly enough, gold's all-time high of $1,923 ended at about the same time the SNB decided to peg their...
First target is hit (Thanks Swiss National Bank). We will move stops up to just under our entry. The trade is at no risk and now we will sit on our hands and see how far she can go, As we mentioned this is a weekly setup so we expect a good size move. However, what we saw from the Swiss last night can be a game changer. USE STOPS AND DON'T BE A HERO. You...
Remember the Swiss National bank is committed to defending the currency at 1.20 with "determination".
It may possible they are actively intervening at this point.
1.20 is the floor so buying now offer a great risk/reward opportunity. Unlikely to come again for a while.
On the technical side, each lower platau of the 20 day MA is met with a higher and price...
EURCHF has been drifting towards the lower end of a 3yr channel since the beginning of the year. Although it hasn't touched the 1.200 level the SNB has vowed to defend, it's gotten close enough in recent weeks to attract bargain hunters buying in anticipation of SNB intervention. I'm long at 1.208 and like the risk reward here as the weekly RSI, Stochastics and...
