USDCHF multi time frame analysisHello Trader, Here is the full analysis of USDCHF:
1) Monthly - No significant price action found.
2) Daily - Forming big red candles which shows weakness in the prices.
2) 4Hourly - Currently testing the buy zone/support level and is in between 0 and 0.23 fib level(which is not an important level) .
3) Current retracement level is at 0.5 which is good level for prices to move up
Action
marubozu candles are formed on the daily chart which shows a weakness in the prices. If the support is broken with a marubozu candle then we can see a downfall below support. Wait for these levels to look for entry opportunity .
Technical Indicators:
Moving Averages - Strong Sell
Technical Indicators - Strong Sell
Moving Averages Crossovers - Strong Sell
COT data(Commitment of traders):
JUNE 06/02/2020
USD - Long(17877) Short(9619)
CHF - Long(13364) Short(4375)
JUNE 05/26/2020
USD - Long(21039) Short(6240)
CHF - Long(13246) Short(4507)
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