Once again, I have plenty of fundamental and technical reasons to buy USD's against almost all major trading pairs but I will not be doing this for long as I expect a very weak USD later in the year. My idea is that within the next 2 years EURUSD will head back above the 1.25 range and possibly the 1.30 but i'll speak about this in the EURUSD analysis, I just wanted to express the point of a weak USD.
Here is what I see happening with USDCHF.
Technical:
- The pair has created a bullish head and shoulders pattern on it's daily chart indicating that a move of at least 90 (definatly more) will come early in the new trading week.
- EMA trend system set to change course (medium time-frame) once the market opens.
- Candlestick reversal pattern indicating that price will head around 150 - 200 pips very soon. (up)
Are you trading the USD in the new week? Let me know what you see happening in the comments below.
As always, comments will be added to this trade idea.
Thanks!
Here is what I see happening with USDCHF.
Technical:
- The pair has created a bullish head and shoulders pattern on it's daily chart indicating that a move of at least 90 (definatly more) will come early in the new trading week.
- EMA trend system set to change course (medium time-frame) once the market opens.
- Candlestick reversal pattern indicating that price will head around 150 - 200 pips very soon. (up)
Are you trading the USD in the new week? Let me know what you see happening in the comments below.
As always, comments will be added to this trade idea.
Thanks!
Note
I released another trade idea versus the CHF, this time I am buying AUDCHF. I strongly believe that the CHF will be rather weak against all major pairs. I will continue to add on to my positions on this pair.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.