The USDCHF comes into resistance level around 0,9820 - 09840 with strong negative divergence on the RSI which means that there is NO power in moving higher and a strong possiblity to change direction. Also the Candlesticks give some exhausting singals on the 1 hour chart. Levels around 0,972 - 0,968 and 0,964 can give some support.
Price is beginning to form a possible double top. If that's the case, I will monitor the price to see what it does once it comes out of the consolidation that is currently happening at the 76.4% Fib level. My 1st signal was triggered with a close below the 50 MA. If it continues in a down trend, I will open a short position taking 1/2 profit at the 61.8% Fib level...
Like , Follow and support This trading setup of USDCHF is based on very simple technique that is price action . Short when it touches the resistance line in order to capture the retracement .
Now the USDCHF is on a resistence level, RSI has a divergence and MACD too, maybe the price is ready to have a correction the next days, but it would raise more and need another kind of confirmation
USDCHF for Short. The reasoning behind this is because the MACD shows significant data that buyers/investors are pulling their investments out potential making the market fall but could eventually pick back up again. MA is for a 20-day period which shows that the price is way high compared to past 20 days. Therefore my prediction for short.
Break and retest and bounce of key areas , we are short on this pair
Pair may test the main trendline if crashes below.. Thank you for your time take a look..
If USDCHF close out the Daily triangle could lower to Daily support at 0.95 approx. Let's see...
SUMMARY: The USDCHF pair bounced slightly during the course of the day Wednesday, using the 0.9733 level as support. At this point in time, the market is looking bearish. The primary trend of USDCHF is bearish on charts and price is trading below its support trend line in its hourly chart. In its daily chart the price is sustaining below 100 day SMA that are...
Sell the support break, Buy the bounce. Targets outlined on chart.
Hi guys We just broke the trend line. We are going to wait for a pull back on the fibonacci and after short it. Low risk with high probability. Hope this chart will help you Good luck
$USD is long and probably one can hold for few years if the dark green line doesn't breach. And sell when the historical red resistance line hits.
BEARISH GARTLEY PATTERN ON THE USDCHF DAILY CHART. PRICE ACTION RIGHT IN OUR KILL ZONE. DEFINITELY LOOKING TOWARDS THE SHORT SIDE.