USDCHF reacted bullishly to no apparent reasons in the afternoon EU hours. I think the pair will depreciate more next week.
USDCHF erased most of the losses accumulated in recent weeks. I think the pair could break parity next week.
Good move to the upside this week. Interesting what the next what will bring. I’m bearish.
Neutral at this point, bearish for the long term.
USD/CHF dropped today with around 40 pip and crossed to below the 0.99 handle. The pair found support at the weekly low and it seems that the bulls will try to retake this level.
I am looking to short the pair if it gets below 1.0060.
Below 0.9940 could mean trouble for the exchange rate.
The Swiss franc seems to be losing some ground against the US dollar. Good selling point at 1.0040.
I’m bullish on the USD for the next week.
At what level are you looking at for possible reversal or TP?
USDCHF 30 JUL 2018 Monday
Impression : Retracement phase of a Bearish USDCHF
Trade considerations,
- Price swinging within a bullish channel shows bullish momentum.
- Price closed above Ichimoku cloud indicates bullish bias.
- Price have yet to touch lower border of bullish channel. Major selloff during US session on Friday seems to be traders booking profit due to end of week. With no Major high impact news on Monday, trading USDCHF could be tricky as the sell off could continue southward.
Entry, Buy Limit order at 0.99300 (Friday Low)
Target’s projection , 0.99800 (Friday High)
Stop loss, 0.99000 (Weekly Low)
USD/CHF struggles to extend gains above 0.99 level, but at 0.9930 is lying strong resistance.
1.0037 looks like a good place to bet short on the pair.
USDCHF is facing further downside pressure. The downside remains supported by the 0.9900 handle, which if broken will open the door for further weakness towards the 0.9850 level and then 0.9800. The upside is providing resistance at 0.9950, followed by the 1.0000 psycological level. All in all, the USD/CHF pair is facing further downside pressure.
It’s been consolidating for the last month. Tough to trade.
0.9790 is seen as a good entry level for long positions. Let’s see what the news releases bring.
USD/CHF broke the support at 0.9790 and is now trading below it. I expect the pair to continue to trade South.
Don’t jinx me man, i’m still long on USDCHF today.
Since second half of August the USD/CHF pair started to fall sharply and currenlty is trading around 0.97, its lowest level for the recent four and a half months. Indicators on the four hour time frame remain in oversold territory and it seems that bears are trying to keep the donward trend intact. The pair remains contained within the bear channel with bulls finding resistance at the 0.9700 resistance while the bearish target is to recapture the 2018 low at 0.9651.
The pair moved to the upside these past month, I think parity would be a good time to go short.