Hi, today we are going to talk about USDCHF and its current landscape.
We can observe at this timeframe, a confluence of technical factors, that entail a setup which might drive this asset to a new movement. The details of our analysis are highlighted in the chart above.
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Third touch on the trend line and static resistance is seen due to the consolidation.
The Stochastic and Momentum Indicators are also indicating sells.
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=0.9745.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=0.9675.
TP4: S2=0.965.
Set the stoploss of these orders at breakout of R2=0.979.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of...
Good long entry on the 4hr support ,basing the genral momentum of the market the past weeks,looks good for longs ,expect a lot of noise at consolidation
Looking for a strong hard pullback on the 15 minute timeframe, and then we can look for BULLISH momentum on the 5 minute chart and after confirmation we will start to buy UC again.
USDCHF
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...
The pair is in the Triple three corrective five wave pattern as shown in the chart.The last wave Z has just begin and it will complete around 1.0848 price zone.
