USDCHF Buy Trade opportunity
It running on range position and testing resistance level if breakout with a good bullish candle then waits for some retrace and take a long trade as we mark on the chart
"Always trade with Stop Loss"
we have seen the pair move up till 95970 now is the time for sellers to come into action 133 pips down for now rest we will see if the market is still going down
USDCHF prints a five-day uptrend to refresh the yearly high at around 0.9460. The pair’s latest upswing took place from the 21-DMA and monthly support line. However, the overbought RSI and April 2021 peak near 0.9475 challenge the pair buyers ahead of a speech from the Swiss National Bank (SNB) Chairman Thomas Jordan. Even if the quote rises past 0.9475, an upward...
Trading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (0.9395).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. USDCHF is in a range bound, and the beginning of a downtrend is expected.
. The price is above the 21-Day WEMA, which acts...
We have USDCHF forming very good pattern. Here we can look for shorting opportunities if it shows weakness from the trendline. And we also can look to go long after giving bullish signs from the support area. So for thing range we can trade keeping this view in mind
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Even though CFD/USD graph have not made lower Lows and seems to be breaking the down trend but with respect to FR chart, it seems that its strugling to pullback up to test the FR61% level hence; most likely it's going to retest the FR78% at least before going further down to may be pull back up.
