The USDCHF counter’s price broke the support line of the ascending triangle. The bullish trend has come to an end. Short is suitable for this counter because of the current market conditions. The bearish trend may prolong for a couple of days and the price is expected to fall till S1.
If the price retrace back to the support trend line then square off your short...
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.949). 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 uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance....
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.9475). 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 uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic...
As the market touches the resistance line which was a strong support line previously.To enter in this trade we need to wait for conformation i.e engulfing pattern.
Hello 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...
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.9535). 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 downtrend is expected.
. The price is below the 21-Day WEMA which acts as a...
