The USDCHF has dropped from its latest peak as visible in this H4 chart and broken through support levels posed by its 50 DMA as well as 200 DMA as well as its ascending support line turning them into resistance. This currency pair has corrected too much too fast and its drop was halted by another ascending support level and has now formed a bullish price channel. We believe this pair will attempt to rally from back into its new resistance levels in order to retest and confirm them. MACD has completed a bearish centerline...
The USDCHF has rallied from new multi-week lows and eclipsed past its flat 200 DMA as visible in this D1 chart. This currency pair now ran into a strong resistance zone which is enforced by its 50 DMA and further increases the strength of bearish pressures. Additionally price action indicates a pending turnaround in the upward trend as the last D1 candlestick formed a hammer at resistance. We believe this currency pair will correct from current levels and retest the recent lows. MACD has completed a bearish centerline crossover...
The USDCHF has reversed it previous attempt to move higher after it touched its 200 DMA as visible in this D1 chart. This currency pair has now retraced back down to its very strong horizontal support level from which we expect another attempt to move higher and breakout above its 50 DMA as well as 200 DMA and back into its horizontal resistance level. MACD continues to show improvement as it approaches the histogram as well as moving average continue to approach the centerline. We expect a bullish centerline crossover to occur...
The USDCHF has corrected sharply as visible in this D1 chart. This currency pair has now formed a falling wedge formation which is a bullish chart pattern. Over the past five trading days the USDCHF has started to form a bottom as indicated by price action and the last five daily candlestick formations. We expect current support to hold and for this currency pair to launch a rally which will take it back to its 200 DMA. MACD indicates that momentum has stabilized as the histogram has set a higher low which suggests underlying...
Should price action for the USDCHF remain inside the 0.8800 to 0.8850 zone the following trade set-up is recommended: Timeframe: H4 Recommendation: Long Position Entry Level: Long Position @ 0.8800 Take Profit Zone: Stop Loss Level: 0.8700 Should price action for the USDCHF breakout above 0.8850 the following trade set-up is recommended: Timeframe: H4 Recommendation: Long Position Entry Level: Long Position @ Retracements in the trend; buy orders during dips Take Profit Zone: Stop...
