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Swingtrader

Seeking dips on GBP/CHFA bullish trend has developed on the daily chart. Prices have pulled back lower, yet support was found at the 50 retracement level and the cross now trades back above the 200-day MA. A bullish divergence has formed on the 4-hout chart, and price action appears to be corrective on this timeframe. Also note that the 2-year spread between GB-CH yields ahead of prices to suggest upwards pressure could be building on GBP/CHF. Given the bullish structure of the daily timeframe, pullbacks towards the monthly pivot point could be appealing for bullish setups, in anticipation of a move up to 1.14.
Long
by CityIndex
Seeking to fade into AUD/JPYA prominent bearish outside / engulfing day formed on Friday. Moreover, it failed to hold above the 200-day MA and closed the day back below the 100 handle. And its high almost perfectly respected the high-volume node (HVN) from the July high to August low. A bullish trend has developed on the 1-hour chart after the initial selloff found support around a 38.2% Fibonacci level. However, we're now seeking signs of weakness around the daily R1 pivot, or 10 handle resistance zone for a swing trade lower (given the strength of the bearish engulfing candle on Friday). The daily S1 and S2 pivot point around 99 and 98.50 respectively are downside targets for bears to consider. MS.
Short
by CityIndex
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