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Usdchftrade

USDCHF broad falling wedge pattern and break and retestUSDCHF Has managed to break the broad falling wedge pattern and retested once around 0.92500 level and bounced back towards 0.93000 And we can see a series of HH HL HH pattern here which is a clear sign of the bullish trend. The next possible upside target would be 0.93500 and 0.94000 In second quarter of the 2020 USDCHF has managed to fell below the 0.90000 major key psychological and reserve bank intervention level. Most of the time USDCHF Has bounced from this level.Due to the broad weakness in USD is the main reason for the rapid selling in USDCHF. After start of this year we can see some bullish trend in DXY which is reflecting in this pair and managed to back above 0.90000 level and currently trading near 0.93000 level.On monday market open the price might reach around 0.92500 and i am expecting bounce towards 0.94000. The Exponential moving average was just below the current price level which is a clear sign of the bullish trend here.The bear has to contend with these Moving averages such as 50,100 In Ichimoku cloud the cloud has turned red and its broadening too and the middle line is currently acting as another support for the bullish trend. And in Bollinger bands the price has reached around middle band which will give a short term buying pressure RSI has reached around 50,MACD is still above the line and green and Stochastic has reached around 80(short term fall back was expected) Trade call Buy @ 0.92600 Take profit @ 0.94000 Stop lose @ 0.92100
Short
by forexorbit
USDCHF COMPLETE ANALYSIS AS PER THE WAVE THEORY We have a downward 5 Wave Impulse complete; this is a WAVE 1 and now there is a Correction forming; This Correction has Wave A comeplete and Wave B is forming; we need to verify the Wave A and B in the Lower Degree; So here We have explained Wave As subdividions Wave A is a 5 Wave upward Impulse Wave B is a Triangle and Wave C is a Ending Diagonal; Here we have Wave B forming now in the downward direction; Wave A is a Leading diagonal Wave B is a Zigzag and now Wave C is forming So here the WAVE B ends and now we wil encash the WAVE C which will be an Upward Wave; Here Wave 3 is a Zigzag (Zigzag is also an Impulse) hence In Wave B we have a Wave A which is a downward Leading Diagonal; Wave B is a upward Zigzag; We see Wave B has retraced Wave A by 93.93%, hence as per the rule of Flat Wave C has to be a downward Impulse; So then Wave B retraces Wave A 38.2% hence from here starts the WAVE C which will be an Upward Impulse We have 2 Trades here One is a SHort Trade and then where we have the Target of the SHort trade we have a Buy Trade from there; Long Trade
Long
by Kruti0210
USDCHF sell trade @H4 chartUSDCHF As CHF is considering as one of the safe heaven assets along with JPY its gained some strength during this financial crisis time The Elliot wave is forming in this chart we can see that Wave 02 is almost completed and stated its run to complete the wave 03 It will form descending channel. We can open short positions at this level which is 0.96400 0.94300 would be a resistance level we have keep eye on this level Primary target would be 0.93100 And the final target would be 0.91900 Stop lose may placed above the 0.96900 level
Short
by forexorbit