USDCHF | PERSPECTIVE FOR THE WEEK
It has been a while since I published anything on USDCHF due to validity of previous bias. With over 300pips in our direction since last publication (see link below), it is now glaring that the present structure is so ripe for a reversal (at least a correction move since the downward spiral began in March 2020); As the Greenback pushed higher last week to close in the positive territory, Price broke above my Key level @ 0.91250 with signals that scream "Rally"!
Tendency: Uptrend ( Bullish )
Structure: Trendline | Supply & Demand| Reversal Pattern | Breakout
Observation: i. Since Impulsive decline that began mid-June 2020, Price action appears to have stalled in the Demand area and culminated to make a Double Bottom Structure signifying a Reversal structure.
ii. Breakout of Bearish Trendline followed by an immediate restest @ 0.91000 which also coincides with the Breakout of Key level confirms the strength of Buyers.
Trading plan: BUY confirmation with a minimum potential profit of 230 pips.
Risk/Reward: 1:4
Potential Duration: 1 to 4 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Tendency: Uptrend ( Bullish )
Structure: Trendline | Supply & Demand| Reversal Pattern | Breakout
Observation: i. Since Impulsive decline that began mid-June 2020, Price action appears to have stalled in the Demand area and culminated to make a Double Bottom Structure signifying a Reversal structure.
ii. Breakout of Bearish Trendline followed by an immediate restest @ 0.91000 which also coincides with the Breakout of Key level confirms the strength of Buyers.
Trading plan: BUY confirmation with a minimum potential profit of 230 pips.
Risk/Reward: 1:4
Potential Duration: 1 to 4 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade smart. Trade consciously
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