Technical Analysis for USD/CHF

Hey Everyone,

I was looking through the Currency Spot Forum here on babypips under “Crosses” and came across a thread for technical analysis for GBP/JPY by jebatfx. He has some really insightful stuff and I thought that it would be great to get the same kind of information out there for other currency pairs. I’m going to give my analysis of 1 hr, 4 hr, and daily charts for USD/CHF. I’ll update it as I find good trading opportunities.

I’d like to invite others to comment on my analysis and add their own opinion.


I am using a crossover system described by forexphatom. You can find it in the trading systems hall of fame forum on this site. I am analyzing a daily chart here. Basically, there is a crossover of the EMAs, MACD, and RSI which all indicate a downtrend. Its a little late on this trade but I think there is anywhere between 40-200 pips still up for grabs. Find a good spot to enter the trade and get in on it!

Plan: Short. Target @ ~200 SMA (which is the top white line). SL is set at least at 0.91566 at the very least. Time frame is 1-3 weeks.

The trade shown above is starting to come to fruition after a 4 day long retracement. Based solely on my technical analysis, I believe that the price will continue in a downward trend. However, I can not speak to fundamental analysis. The 200 SMA region is still the target.


The USD/CHF formed a negative day reversal but only a daily closing below 0,9018 will confirm a s/t top suggesting again lower levels.
The indicators of the daily chart are however still positive while those of the s/t ones remain mixed for now supporting further consolidation/ correction. Only an hourly closing below 0,9018 will support a deeper correction with the 200 hours line at 0,8937 the possible attraction.
The indicators of the hourly chart are below the line and the price action is suggesting we have a potential S_H_S formation with the neck line at 0,9055; while below this level on an hourly closing we favour a little lower levels for the dollar but just as a correction!!
I remain on the sideline.

The USD/CHF confirmed a weak closing and therefore also Thursday’s negative day reversal. Only a daily closing tonight below 0,8953 will however support the formation of a s/t top!
The indicators of the daily chart are now again negative but those of the weekly one, where the closing was strong above the top of the previous week, the indicators are still positive. In the s/t charts we have negative indicators this morning. Only an hourly closing above 0,9030 will postpone further weakness favouring a rebound that we expect to be corrective having the dollar formed bullish divergences in its drop on Friday. We suggest however waiting for a possible retest of the 0,9080 area before trying a short position!!
I remain on the sideline.
I believe forex news - easy

The USD/CHF formed a positive outside day reversal with now 0,9105 – 0,8935 the levels to follow in the coming hours. A daily closing above 0,9105 will be positive but only a move above 0,9155 will support higher levels!!
The indicators of the daily chart are now turning above the line and also those of the s/t ones are in positive territory supporting higher levels. The move up could have completed a positive reversal in the hourly chart suggesting a new s/t target at 0,9281; we suggest however waiting for a break above 0,9150 as a correction!! Only a break below 0,8945 will abort this scenery!!
Despite the positive outlook, today, we sold some dollar last night as suggested at 0,9087. We put a stop at 0,9155 while waiting for a possible return toward 0,9050.

The USD/CHF confirmed further consolidation interior the negative outside day with 0,9265 – 0,9055 still the levels to follow in the coming hours.

The USD/CHF confirmed a session of consolidation forming a new inside day with 0,9310 – 0,9190 the levels to follow in the coming hours.
The indicators of the daily chart are still positive but those of the s/t ones turned below the line supporting some consolidation/ correction. An hourly closing below 0,9225 will confirm a double top formation in the hourly chart supporting a deeper correction with the 200 hours line at 0,9205 the first attraction. Having formed new bearish divergences on the way up we expect the decline to be corrective and a buying opportunity but probably only close to the 0,9150 area!!
I remain on the sideline.

The USD/CHF confirmed yesterday another session of consolidation interior the inside day with 0,9310 – 0,9190 the levels to follow in the coming hours. A daily closing above 0,9310 will extend the move up The indicators of the daily chart are still positive and this morning also those of the s/t ones are above the line supporting a possible move up.
We have a potential triple top formation with the key level at 0,9215 that yesterday has been broken but the move was not confirmed by an hourly closing. And hourly closing above 0,9295 will abort this pattern re-launching the move up!!
We remain on the sideline.

The USD/CHF confirmed yesterday another session of consolidation interior the inside day with 0,9310 – 0,9190 the levels to follow in the coming hours. A daily closing above 0,9310 will extend the move up The indicators of the daily chart are still positive and this morning also those of the s/t ones are above the line supporting a possible move up.
We have a potential triple top formation with the key level at 0,9215 that yesterday has been broken but the move was not confirmed by an hourly closing. And hourly closing above 0,9295 will abort this pattern re-launching the move up!!
We remain on the sideline.