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CHFZAR

Swiss Franc to R23.70 in 2024? InsaneAs we know. The rich get richer. The poor get poorer. Well a rich and sustainable economy like Switzerland (one of the most expensive countries to live) is showing major strength for the Swiss Franc. We are seeing a Cup and Handle form. The price broke above the brim level, came back down and jumped up. This conservative entry is where all the demand and buying kicked in for the CHF. So with the price above 200MA and with the upside momentum with CHF, we could see the target at R23.73
Long
by Timonrosso
CHF/ZAR - More pain for the rand t R22.00 - SHOCK WARNING Cup and Handle and a Falling Flag has formed on the daily with the Swiss Franc versus the South African Rand. There was a one month consolidation and retracement. And now it looks like the buying and demand is kicking in again for the CHF. We are looking at all yearly highs soon. 7>21>200 RSI=50 Target R22.00 QUICK STORY~! I was in Switzerland in February and just a three day stay at a basic hotel was R13,500. It's scary to think how depreciated the rand is to this currency and how expensive living day to day is in Switzerland. A simple Fondue meal with beer can cost up to R4,000. A simple tea at a restaurant can set you back R120.00. It is truly a beautiful country with the freshest air and amazing people with drive and ambition. But this is one country that is a privilege to go to if you're from South Africa. Hence, I really hope I am wrong and that this currency doesn't continue to depreciate the rand. Have you been to Switzerland and how was your experience?
Long
by Timonrosso
CHF/ZAR SHORT TERM SWING IDEAThis idea is for educational and demonstration purposes. Please refer to the last post that's linked to this post where I gave the idea of a teacup for this pair. Please note that this is a lesson in that although we may have a trade idea, we must watch action and follow it out swing by swing. Although the teacup is very nice and pretty; prettiness doesn't always play out in the market :) . This short term idea could give us another 500 pips. So with that said, here is a short term idea. We see a sweet spot for price is the key zone that is noted. Watching for price to pull back to this key zone, and from there we will see where it takes us. Trade at your own risk. Be sure to like and follow me on Instagram and Facebook (links below). Better yet inbox me to join my team and educational platform where you will get the best education, more support and other trading ideas. Our educational platform is world class and you can learn to trade the markets like a pro. See linked idea below as well for long term idea, which we discussed does not have to happen. It's simply a pretty idea..if it does happen cool. If not, we will react to the market accordingly.
Long
by mrsceleste
2
CHF/ZAR POTENENTIAL TEACUP - WATCH PRICE ACTIONThis is not a signal but is for educational and demonstration purposes only. There are no guarantees this idea will play out. We must look at price action along the way. Here are a few confluences I see so far for the short term (they are not confluences for the entire idea; we must watch along the way and take what the market gives us. The teacup is not a guarantee is what I'm saying. We have to look at what the market is doing, not what we want it to do. Watch price action. But for the short term trade possibility: 1. Price pulled back to 50% key fib level. 2. Wick rejection at 200 MA on the daily; this 200 MA possibly serving as dynamic support. Trade at your own risk. Watch price action on lower timeframe for your additional confirmations before entering.
Long
by mrsceleste
CHFZAR KEY ZONE STUDYTHIS IS NOT A SIGNAL BUT AN EDUCATIONAL POST FOR STUDY PURPOSES. If you enter this trade you do so at your own risk. This study allows us to watch price action as it approaches a key level in the market. We watch to see if price will respect this key resistance zone, or if it will reject it and continue upward. This pair can be correlated somewhat to USDZAR in terms of market structure. If price rejects this key level I would look to sell to the trendline which also happens to be confluent with a key fib level in the market. . Trade at your own risk.
Short
by mrsceleste