USDCHF Trade Setup

[successworks]

The USDCHF has a major support level at .9350, this level as you can see has been tested and confirmed the break of support.

Last week followed strong momentum to the downside only to classically come back to confirm previous Support as Resistance.

The entry can be any price point below .9350 or pull back thereof with the first predicted target of .9274 and second predicted target of .9228.

Simple trading the simple way.

Stay tuned for more tips.

 

[Rambo35]

Thanks for your opinion on this currency pair. I have looked at it, but have not found my entry points yet. I am considering taking a short position after it approaches 0.9400.

 

[ituglobal]

Right now, the USDCHF is in bullish mode. There is a clean bullish signal on this instrument and the market has moved upwards by close to 130 pips in this week. The EMAs support this view and oscillators are currently in the overbought region; this means there could be some transient bearish retracement before the price goes towards the resistance level of 0.9500.

 

[konci]

Great analysist. when you analyze USDCHF, do you correlate this analysis with EUR/USD?

 

[Rambo35]

Right now, the USDCHF is in bullish mode. There is a clean bullish signal on this instrument and the market has moved upwards by close to 130 pips in this week. The EMAs support this view and oscillators are currently in the overbought region; this means there could be some transient bearish retracement before the price goes towards the resistance level of 0.9500.

Out of curiosity, what is your clean bullish signal?

 

[ituglobal]

Just in the exact opposite manner to the EURUSD, this pair is in a bearish mode and it has dropped by over 120 pips this week. The pair is currently active around the market level of 0.9300, but it should trade far lower than that level for the current bearish outlook to remain sensible.

 

[Rambo35]

Just in the exact opposite manner to the EURUSD, this pair is in a bearish mode and it has dropped by over 120 pips this week. The pair is currently active around the market level of 0.9300, but it should trade far lower than that level for the current bearish outlook to remain sensible.

You still have not answered the question about how you derived at your conclusion.

 

[ituglobal]

Hi Rambo:

The markets change constantly, and therefore, the situation has changed.

 

[Rambo35]

Hi Rambo:

The markets change constantly, and therefore, the situation has changed.

That's true so next time it would be nice for you to explain when you write about it.

 

[ituglobal]

The USDCHF is a strong market and the northward bias will continue, irrespective of any possible pullbacks in the market. The pullbacks ought not to take the price below the support level at 0.9600. With the current extant Bullish Confirmation Pattern, the price could go upwards towards the resistance level at 0.9800.

 

[Rambo35]

The USDCHF is a strong market and the northward bias will continue, irrespective of any possible pullbacks in the market. The pullbacks ought not to take the price below the support level at 0.9600. With the current extant Bullish Confirmation Pattern, the price could go upwards towards the resistance level at 0.9800.

Same as last time, what do you base this on?

 

[ituglobal]

The bullish outlook is vivid on USDCHF and in spite of the sideways movement so far this week, there is still some bullish determination in the market. One barrier to further bullish run is the resistance level at 0.9750 (which has been tested a few times). It is hoped that that resistance level should be violated to the upside for the northward outlook to continue to hold.

 

[Rambo35]

The bullish outlook is vivid on USDCHF and in spite of the sideways movement so far this week, there is still some bullish determination in the market. One barrier to further bullish run is the resistance level at 0.9750 (which has been tested a few times). It is hoped that that resistance level should be violated to the upside for the northward outlook to continue to hold.

I disagree with your outlook. I believe we will correct after the FOMC minutes today and head lower.

 

[ituglobal]

On the 4-hour chart, there is a ’buy’ signal. In this week, the price has succeeded in rejecting further bearish threats on it. The EMA 11 is above the EMA 56, and the Williams’ % Range is in the overbought region. The next price target would be the resistance level at 0.9800. One would do well to seek long trades only.