USDCHF Will Go Up From Support! Long!
Take a look at our analysis for USDCHF.
Time Frame: 12h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 0.907.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 0.915 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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Usdchf!
USDCHF: Your Trading Plan Explained 🇺🇸🇨🇭
USDCHF is currently testing a key daily horizontal support.
To buy this structure with a confirmation, pay attention
to an expanding wedge pattern on a 4H time frame.
Your confirmation to buy the pair will be a bullish breakout
of the resistance line of the wedge.
A bullish continuation will be expected at least to 0.9155 then.
If the price drops below the underlined green area,
the setup will become invalid.
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Strifor || USDJPY-29/05/2024Preferred direction: BUY
Comment: The probability of a fall in the instrument remains, as we wrote about earlier, but we need to consider the global direction as a priority. As for the medium-term prospects, most likely they will develop in favor of the buyer, as well as the long-term prospects. The focus is on the resistance level of 160.209 , this year's high. We consider scenario №2 after the price approaches support at level 153 , but it is not advisable to try to short here. Scenario №1 is a priority, as are medium-term long in general.
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Strifor || USDCAD-29/05/2024Preferred direction: BUY
Comment: The USDCAD currency pair is also considered today more from the point of view of buy-priority. Here the growth target is the resistance level 1.37438 , which is a local maximum. In the medium term, growth is expected to be even higher.
The most likely scenario №1 speaks of maximum growth from current prices, and this applies not only to this instrument, but also to most other major pairs. But a sharp drop to the level is also not excluded. 1.36000 . This could happen against the backdrop of the publication of data on US GDP , for example. However, the medium-term prospects (scenario №2) for this instrument will most likely develop in favor of the buyer.
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Strifor || USDCHF-29/05/2024Preferred direction: BUY
Comment: For the Swiss franc , the focus is on the level of 0.91424, from which buy-deal is expected, and at the same time the medium-term strengthening of the US dollar. The context for a long position has now been formed and one can look for an entry point. The best option would be to go long through a breakout, as shown in the chart. Scenario №1 and Scenario №2 in this case are precisely a long trade through a breakout. The growth target is fixed at the level of 0.92160.
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Strifor || SILVER-28/05/2024Preferred direction: SELL
Comment: Not long ago, we considered silver for short-term buy-deal and this trade has already been closed today, or at least transferred to breakeven, and most of the profit has been fixed. In the shorter term, the metals are likely to expect a pullback, a downward correction. Against this background, we will consider two scenarios, which can be seen on the chart. It should be noted that both scenarios are rather considered by us equally, although scenario №1 is designated as a priority. The target for the fall is considered to be at support 29.77800.
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USDCHF: Borderline but still bullish on 1D.USDCHF is borderline bullish on its 1D technical outlook (RSI = 57.216, MACD = 0.002, ADX = 24.748) but still inside the 2024 Channel Up. As long as the 1D MA50 supports, we will stay bullish along with the trend, especially since the 1D MACD formed another Bullish Cross. Despite the presence of the R1 level, the bullish waves of the Channel Up have been clear and dominant. The current one targets the R2 level but we pursue a more modest target (TP = 0.9300).
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Market Analysis: USD/CHF Targets Upside BreakMarket Analysis: USD/CHF Targets Upside Break
USD/CHF is rising and might aim a move toward the 0.9155 resistance.
Important Takeaways for USD/CHF Analysis Today
USD/CHF is showing positive signs above the 0.9110 resistance zone.
There is a connecting bearish trend line forming with resistance at 0.9130 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF at FXOpen, the pair declined heavily below the 0.9140 level before the bulls appeared. The US Dollar tested 0.9085 and recently started a fresh increase against the Swiss Franc.
The pair climbed above the 0.9110 resistance zone. There was a break above the 50% Fib retracement level of the downward move from the 0.9153 swing high to the 0.9086 low.
The bulls are now facing resistance near the 50-hour simple moving average and 0.9130. There is also a connecting bearish trend line forming with resistance at 0.9130 and the 61.8% Fib retracement level of the downward move from the 0.9153 swing high to the 0.9086 low. The next major resistance is at 0.9140.
The main resistance is now near 0.9155. If there is a clear break above the 0.9155 resistance zone and the RSI remains above 50, the pair could start another increase. In the stated case, it could test 0.9200.
If there is another decline, the pair might test the 0.9110 support. The first major support on the USD/CHF chart is near the 0.9085 zone. A downside break below 0.9085 might spark bearish moves. The next major support is near the 0.9040 pivot level. Any more losses may possibly open the doors for a move toward the 0.9000 level in the near term.
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Strifor || GOLD-Week StartingPreferred direction: SELL
Comment: Sell priority is also relevant this week for gold , at least in the first half. At the moment, one can look for good sales near current levels with a target at the level of 2300 , where, in turn, one can take a closer look at the long deal that we talked about at the end of the previous week.
On the chart, one can see two scenarios, but in essence, this is a single option for setting up for sale, and the scenarios differ only in the depth of the potential false upward movement. In general, one needs to carefully watch level 2343.869 and look for an entry point to sell around this area, especially after a false upward movement.
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USDCHF to find support at market?USDCHF - 24h expiry
Daily signals are bullish.
20 1day EMA is at 0.9103.
Early pessimism is likely to lead to losses although extended attempts lower are expected to fail.
We look to buy dips.
We look for a temporary move lower.
We look to Buy at 0.9103 (stop at 0.9081)
Our profit targets will be 0.9158 and 0.9168
Resistance: 0.9130 / 0.9158 / 0.9175
Support: 0.9117 / 0.9100 / 0.9080
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USDCHF Set To Fall! SELL!
My dear subscribers,
My technical analysis for USDCHF is below:
The price is coiling around a solid key level - 0.9142
Bias - Bearish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 0.9095
My Stop Loss - 0.9171
About Used Indicators:
By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses
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WISH YOU ALL LUCK
USD/CHF SELLERS WILL DOMINATE THE MARKET|SHORT
Hello,Friends!
USD-CHF uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 0.899 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the USD/CHF pair.
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Potential bearish drop?USD/CHF has reacted off the pivot which acts as a pullback resistance and could drop to the 1st support.
Pivot: 0.9151
1st Support: 0.9094
1st Resistance: 0.9213
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Strifor || EURAUD-24/05/2024Preferred direction: BUY
Comment: Previously, we published a medium-term trading idea with a target at the level of 1.64767 . This idea is still at work, and the stated goal is also relevant. If we consider the current picture, we can consider entering a long position with the same target at the level of 1.64767 (scenario №1). This will be especially interesting for those who did not manage to enter a long position earlier.
As an alternative entry into a long position within the short-term framework under consideration, we can highlight scenario №2. However, it is undesirable, and it is better to look for a buy at current prices at the time of writing this trading idea.
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Strifor || GOLD-24/05/2024Preferred direction: BUY
Comment: Metals after the corrective movement are considered for medium-term long. There is no need to talk about the short term yet. The most likely scenario for gold is growth from the level of 2343.869 (scenario №1). To do this, it is necessary to close above the level of 2343.869 , thereby forming a false breakout after such an aggressive approach to the specified support level.
Scenario №2 assumes growth after a deeper correction towards the level of 2300 . In this area, using a similar format, according to scenario №1 , one can expect growth towards the target at the level of 2431.590.
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Strifor || GBPUSD-23/05/2024Preferred direction: SELL
Comment: Today is quite an interesting day from the point of view of the publication of economic events, and, most likely, there will be volatility in both the European and American sessions . Against this background, it makes sense, based on a number of important technical factors, to begin to consider selling priority for a number of major currency pairs. Among them is the British pound.
It should be noted that this is not a short-term trade, and here we will consider two scenarios. Scenario №1 assumes a fall today, especially against the backdrop of those important economic indicators whose publication we expect today. Scenario №2 is a more conservative, but at the same time less likely, maneuver. In both cases, we consider the target at the level of 1.26500.
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USDCHF → False breakdown gives bullish momentum ↑FX:USDCHF is forming a false breakdown of range support and uptrend, which opens the market to buy potential. CHF is weakening stronger than the dollar and this could support the uptrend.
On D1, the price tested the MA-50 ascending average with a false breakdown, as well as a strong support area at 0.900. Liquidity capture and candlestick set-up form the price reversal and bullish momentum, which, from the point of view of trading inside the range, can lead the price to the upper boundary - 0.9216
Resistance levels: 0.910, 0.915, 0.9216
Support levels: 0.9075, 0.900
A break through the nearest zone 0.910 will accelerate the price strengthening. The bullish trend may continue.
Regards R. Linda!
Buy USDCHF Triangle BreakoutThe USD/CHF pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours.
Possible Long Trade:
Entry: Consider Entering A Long Position Above The Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 0.9150
Target Levels:
1st Resistance – 0.9178
2nd Resistance – 0.9191
Stop-Loss: To manage risk, place a stop-loss order below 0.9125. This helps limit potential losses if the price falls back unexpectedly.
Opportunity Breakdown:
Triangle Breakout: Price action recently broke above a bullish triangle, a continuation pattern suggesting further upside potential.
Retest Confirmation: The price has retested the broken resistance line of the triangle and held, indicating strong buying pressure. This retest adds confidence to the breakout.
Ichimoku Cloud Support: The current price sits comfortably above the Ichimoku cloud, a technical indicator that often signals bullish momentum when the price is above the cloud.
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USDCHF H4 | bearish drop ?Based on the H4 chart analysis, we can see that the price has just reacted off our sell entry at 0.9156, which is an overlap resistance.
Our take profit will be at 0.9097 an overlap support level that aligns with 38.2% Fibo retracement
The stop loss will be placed at 0.9226, which is a swing-high resistance level.
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Strifor || USDJPY-22/05/2024Preferred direction: SELL
Comment: The opinion and trading setup for the Japanese yen also remains the same. In the short term, all this will most likely be a small, but downward movement towards levels 153 and 152 . The two previous scenarios are relevant for today, as already mentioned. Scenario №1 - sales at current prices, and scenario №2 - a preliminary approach to 157-158. In both cases, we fix the target near the level of 153.222 (70%), and at the level of 151.786 (the remaining part).
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Strifor || USDCHF-22/05/2024Preferred direction: SELL
Comment: The shorter-term trade on the franc remains in effect. Here, selling outflowing levels is expected (scenario №1), as well as from the level of 0.91424 (scenario №2) . It should be noted that the franc is not the most attractive currency to buy against the US dollar, however, selling priority on the currency pair is more likely.
Let's consider the same level 0.90108 as a target.
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Strifor || USDCAD-22/05/2024Preferred direction: SELL
Comment: After another price fixation at the level of 1.36000, we are again considering an approach to this level through two scenarios. It should be noted that a fall below 1.36000 is not expected, so it will be very important to exit on time. The most likely scenario №1 involves a fall actually from current prices near the level of 1.36557 . Scenario №2 is more conservative, but at the same time less likely today, which involves a fall from the level of 1.37020.
In general, most likely in the short term, the main competitors of the US dollar will strengthen their positions, however, considering the more global picture, there is a high probability that the US currency will win back all its lost positions.
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