Bullish bounce?NZD/CHF is falling towards the support level which is a pullback support and could bounce from this level to our take profit.
Entry: 0.51093
Why we like it:
There is a pullback support level.
Stop loss: 0.50923
Why we like it:
There is a support level at the 127.2% Fibonacci extension.
Take profit: 0.51335
Why we like it:
There is a pullback resistance level.
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Chf
USDCHF POSSIBLE TRADE SETUPPotential Trade Setup on USDCHF
The price broke out of a strong intraday resistance zone, although the Trend remains bullish and the set Trendline keeps the price on the higher part of the market.
The price is developing, and I am waiting for a retest of the previously broken resistance and used as support before I look for a LONG trade.
A BUY opportunity is at the top above the weekly Low at 0.88818.
You may find more details in the chart!
Thank you and Trade Responsibly!
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Swiss Franc Futures Decline Amid Weaker US Dollar:Market InsightThe CHF Swiss Franc futures pair experienced a decline to approximately 1.308 during the early European trading session on Monday. This weakening can be primarily attributed to the broad softness of the US Dollar (USD), which has been under pressure lately. After an initial reversal at the pivotal level of 108.000, the US Dollar Index (DXY) managed to recover some ground, indicating a volatile session ahead for currency traders.
Today's market attention is squarely focused on a series of significant economic events that could influence currency valuations. Notably, European Central Bank (ECB) President Christine Lagarde is scheduled to deliver a speech that many analysts anticipate will provide insights into the central bank's future policy direction. Given the current economic climate in Europe, her comments are likely to be closely scrutinized by market participants looking for hints on interest rate adjustments and other monetary policy considerations.
Additionally, the release of the US ISM Manufacturing Purchasing Managers' Index (PMI) later today is another critical data point that traders are monitoring. The PMI serves as a vital barometer for the health of the manufacturing sector, and its results can significantly sway market sentiment. A stronger-than-expected PMI reading could lend support to the USD, particularly in light of the Federal Reserve's cautious stance in recent months. A resilient manufacturing sector may fuel speculation about potential interest rate hikes, thus supporting the US dollar.
As the market digests these developments, a bearish sentiment appears to be forming for the CHF futures pair. The combination of a weaker Swiss Franc and the possibility of a stable or strengthening US Dollar suggests that traders may be looking to position themselves for a further decline in the CHF/USD relationship. In the current environment of uncertainty and varied economic signals, currency traders must remain vigilant, ready to adapt to rapid changes that could arise from today's pivotal events.
In summary, the interplay between the Swiss Franc and the US Dollar is accentuated by current macroeconomic factors, including central bank communications and key economic releases. With a bearish setup on the horizon and investors keenly anticipating these market-moving events, today's trading session promises to be both challenging and potentially rewarding for those engaged in forex trading.
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Bearish drop off pullback resistance?The Swissie (USD/CHF) is rising towards the pivot and could reverse to the 1st support which has been identified as an overlap support.
Pivot: 0.9197
1st Support: 0.9039
1st Resistance: 0.9366
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Potential bullish bounce?USD/CHF is falling towards the support level which is a pullback support that is slightly above the 38.2% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 0.9134
Why we like it:
There is a pullback support level that is slightly above the 38.2% Fibonacci retracement.
Stop loss: 0.9098
Why we like it:
There is an overlap support level that is slightly below the 50% Fibonacci retracement.
Take profit: 0.9188
Why we like it:
there is a pullback resistance level.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
EURCHF Is Approaching The Main TrendHey Traders, in today's trading session we are monitoring EURCHF for a buying opportunity around 0.93700 zone, EURCHF is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 0.93700 support and resistance area.
Trade safe, Joe.
EUR/CHF Bearish PennantThe EUR/CHF pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Bearish Pennant pattern. This suggests a shift in momentum towards the downside in the coming Hours.
Key Points:
Sell Entry: Consider entering a short position around close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 0.9360
2nd Support – 0.9337
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Could the price reverse from here?USD/CHF is currently reacting to the resistance level, which is a pullback resistance. A reversal from this level could indicate a double-top pattern, potentially leading to a price drop toward our take-profit target.
Entry: 0.9136
Why we like it:
There is a pullback resistance level.
Stop loss: 0.9173
Why we like it:
There is a resistance level at the 127.2% Fibonacci extension.
Take profit: 0.9058
Why we like it:
There is a pullback support level that lines up with the 61.8% Fibonacci retracement.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bearish drop?GBP/CHF has reacted off the pivot which is a pullback resistance and could drop to the 1st support that aligns with the 61.8% Fibonacci retracement.
Pivot: 1.1373
1st Support: 1.1308
1st Resistance: 1.1412
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish drop?NZD/CHF has reacted off the resistance level which is a pullback resistance and could drop from this level to our take profit.
Entry: 0.51145
Why we like it:
There is a pullback resistance level.
Stop loss: 0.51381
Why we like it:
There is a pullback resistance level that aligns with the 138.2% Fibonacci extension.
Take profit: 0.50703
Why we like it:
There is a pullback support level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Potential bullish rise?CAD/CHF is reacting off the pivot which acts as a pullback support and could rise to the 1st resistance.
Pivot: 0.62795
1st Support: 0.61928
1st Resistance: 0.63967
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish reversal off overlap resistance?AUD/CHF is rising towards the pivot and could reverse to the 1st support which acts as a pullback support.
Pivot: 0.57205
1st Support: 0.55667
1st Resistance: 0.58223
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish drop?NZD/CHF is rising towards the pivot and could drop to the 1st support level.
Pivot: 0.51585
1st Support: 0.50252
1st Resistance: 0.52570
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.