Bearish on the pair but always wait for a confirmation before entering a trade. This is an analysis and projection - not a signal.
I believe the trend will soon change.. But I don't see it in the coming days.
Break of 4hr trend line which will lead up to the 4hr resistance (as highlighted) and then down to the 4hr TP ( as shown) to finish off the triple bottom. Please leave any feedback regarding my analysis, much appreciated.
USDCHF has pushed through WR1 RESISTANCE and is now headed towards strong resistance at .9792 area. I've placed a SELL LIMIT order at .9792 with a STOP just above at .9813. Looks a decent set-up for a 21 pip risk as USDCHF has failed to break this area since mid-March and even then the BULLS relented after failing to push higher. Average daily range on this pair...
Dollar index remain under 100 and the USD is weak across the board. I already have a SHORT USD/CHF trade but I'm adding to it as my in house indicator is flagging a STRONG SELL.
This pair looks to be returning to .95 support.
WS1 is the first target - expect a bounce there and then further USD weakness.
My specialist indicator is flagging this pair as a SHORT trade.
With the Dollar Index under 100 and falling , USD SHORTS are worth exploring. On the daily chart the BEARS look to be well in control of this pair and with WS1 pivot below current price and under WPP Mid-Pivot, a run towards WS1 and the bottom of the shown channel is favourite.
I'm in at .9448 (green...
So, we made some decent pips on selling USDCHF on Friday... before the markets closed we went out of all positions (see our myfxbook) and we waiting for another singal, we now have it!
The trade is explained in detail and our trade tactic too!
My BIAS for USD/CHF for the upcoming week is mainly SELL.
My reasons behind this are
-We can see previous Lower Lows & Lower Highs with lows breaking below our most previous Higher Low.
-We will be looking now for price to break our previous LL for a 1:3 RR trade & then form new LL and LH then entering again with a 1:3 RR trade at our new LH.
•I will not...