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EURCHF to breakdown at 32-week lows?EURCHF - 24h expiry Trades at the lowest level in 32 weeks. There is no clear indication that the downward move is coming to an end. The previous swing low is located at 0.9677. A break of the recent low at 0.9674 should result in a further move lower. We look for losses to be extended today. We look to Sell a break of 0.9673 (stop at 0.9693 Our profit targets will be 0.9623 and 0.9613 Resistance: 0.9688 / 0.9700 / 0.9720 Support: 0.9674 / 0.9660 / 0.9640 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA
USDCHF Sell Forecast H4 | 30th May 2023Fundamental Backdrop USD's CB Consumer Confidence is expected to drop from 101.3 - 99.1 It's a leading indicator of consumer spending, so a drop would show that overall economic activity has decreased Technical Confluences Resistance at 0.90600 Support at 0.90100 Idea If the CB Consumer Confidence comes out as expected at a decrease, we could see price head towards the support at 0.90100. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Short
by OlympusLab
EURCHF: Support and Channel Down Bottom. Ideal Buy opportunity.EURCHF is approaching the bottom of the January Channel Down and S1 (0.964500), followng a Death Cross on Friday. The 1D timeframe is technically red heavily (RSI = 33.995, MACD = -0.004, ADX = 37.194) and as the RSI is on a Falling Wedge, an upward break-out is very likely. Consistent with the previous two rebounds inside the Channel Down, we are aiming at a +1.94% rise, towards the Channel's top and the 1D MA200 (TP = 0.982500). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
8
USDCHF in a positive channel.USDCHF - 24h expiry Our short-term bias remains positive. Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end. 50 4-hour EMA is at 0.9018. Trend line support is located at 0.9008. We look to buy dips. We look to Buy at 0.9018 (stop at 0.8993) Our profit targets will be 0.9078 and 0.9088 Resistance: 0.9060 / 0.9075 / 0.9090 Support: 0.9040 / 0.9020 / 0.9000 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
EUR/CHF - LONG - ANALYSIS + EXPLANATIONThe "EUR/CHF" has been in a downtrend since March – 2021, and it is obvious that we can expect a trend reversal if necessary. > The EUR is the base currency of the pair and has suffered greatly from the USD (DXY) appreciation. > The CHF is generally seen as a security, which is why the EUR is losing out to them. --> Once the USD (DXY) shows signs of corrective behavior, I personally expect a significant upswing. = What this upswing might look like, I'll let you know in the following lines. Table of contents - 1st part = CURRENT STATE - 2nd part = TARGET ZONE PROPERTIES - 3rd part = CONCLUSION PART ONE Since the end of July until today, a formation has formed, which is also known as the "Head&Shoulders - pattern". --> This is formed in the EUR/CHF "OVERCOME", which is usually ended with a "Bullish" breakout. --> The neckline (breakout line) of the pattern, is located at the resistance line (gold-spiked), which has formed since March / 2020. Thus, it can be concluded that if the pattern breaks out "successfully", we will also break the resistance line. After the break of this resistance line, the following sequence of events would be possible: 1. SHORT-TERM TARGET = 1.618 FIB -> 0.98977 2. TEST = of the broken resistance -> conversion into support 3. TARGET = TARGET ZONE 1 SECOND PART "TARGET ZONES" are drawn on the chart, all of which have "concentrated" resistance characteristics. 1. | TARGET ZONE | 0.99718 - 1.00000 | points RESISTANCE - CHARACTERISTICS - "MSB" (Market Structure Break) | March/2022 LL. - "FIB" (Fibonacci) = 0.328s | Created March/2021 - September/2022 - "POI" (Point of interest) = 1.00000 | Psychologically important resistance level - "MA" (Simple Moving Average) = 8-long | Monthly chart - "ICHIMOKU CLOUD" = Conversion line | Weekly chart + Baseline | Monthly chart - "VP" (Volume Profile) = GAP in the zone | Not much volume traded = little resistance. 2. | TARGET ZONE | 1.00879 - 1.01526 | points RESISTANCE - CHARACTERISTICS - "MSB" (market structure break) | HL of April/2022 - "FIB" (Fibonacci) = 0.618s + 0.65s | Created = May/2022 - September/2022 - "FIB" (Fibonacci) = 1.618s | Originated = 02/09/2022 - 26/09/2022 - "POI" (Point of interest) = 1.01000 | Psychologically important resistance - "MA" (Simple Moving Average) = 50-length | weekly chart + 200-length | daily chart - "ICHIMOKU CLOUD" = no resistance in the HTF (Higher time frame) time levels T / W / M - "VP" (Volume Profile) = small volume | not much past traded volume = little resistance to the upside . 3. | TARGET ZONE | 1.02391 - 1.02791 | points RESISTANCE - CHARACTERISTICS - "RESISTANCE LINE" | Created September/2021 (4x touches). - "FIB" (Fibonacci) = 0.75s + 0.786s | Created = May/2022 - September/2022 - "POI" (Point of interest) = 1.02500 | Psychologically important resistance level - "SUPPLY ZONE" = | Monthly chart - "ICHIMOKU CLOUD" = Cloud resistance | Weekly chart + Conversion line | Monthly chart - "VP" (Volume Profile) = Strong Volume | Much Past Traded Volume = Major Resistance. X. | POI ZONE | 1.03736 - 1.03936 | Points RESISTANCE - CHARACTERISTICS - "FIB" (Fibonacci) = 0.88s | Originated = May/2022 - September/2022 - "POI" (Point of interest) = 1,04000 | Psychologically important resistance - "SUPPLY ZONES" = | Daily + Weekly chart - "VP" (Volume Profile) = Strongest volume | Highest past traded volume concentration = Very large resistance. - "MA" (Simple Moving Average) = 50-length | monthly chart. - "ICHIMOKU CLOUD" = no resistance in HTF (Higher time frame) time levels T / W / M 4th | TARGET ZONE | 1.04839 - 1.05398 | points RESISTANCE PROPERTIES - "FIB" (Fibonacci) = 0.618s + 0.65s | Created March/2021 - September/2022 - "POI" (Point of interest) = 1.05000 | Psychologically important resistance level - "MA" (Simple Moving Average) = 100-length | weekly chart + 50-length | monthly chart - SUPPLY ZONES" = daily + weekly + monthly chart - "VP" (Volume Profile) = GAP in the zone | Not much past traded volume = little resistance to the upside. CONCLUSION You now know what the scenario for "EUR/CHF" could look like. The following conditions must be met: - DXY (USD) starts to CORRECT = pressure way fall for the EUR -> EUR more dominant than CHF - BREAKOUT of the H&S pattern -> OVERCOME the resistance line + successful back-test = transformation into a support line. - DEVELOPMENT of the individual ZONES and their relevant resistance properties. PS: + I have once taken the liberty to draw a possible "course", so you can see how it could run. + Many of the indicators described are not visible in the chart, so that a clear view remains. -> Feel free to discuss it in the comments and share our perspectives, I'd be "burning" to hear your take on the whole thing. If this idea and explanation has added value to you, I would be very happy to receive a review of it. Thank you and happy trading! For anyone who would still enjoy the other HTF and want to hide all the "noise" - following the weekly and monthly chart.
Long
by ZielIstDieAutarkie
USDCHF to find support at trend line?USDCHF - 24h expiry - We look to Buy at 0.8963 (stop at 0.8938) Short-term bias has turned positive. Trend line support is located at 0.8960. Intraday dips continue to attract buyers and there is no clear indication that this trading sequence is ending. We are trading at oversold extremes. We look to buy dips. Our profit targets will be 0.9023 and 0.9033 Resistance: 0.8995 / 0.9025 / 0.9050 Support: 0.8975 / 0.8955 / 0.8941 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA