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Usdchfforecast

USD/CHF: double top bearish pattern in sight?The Swiss franc ( USD/CHF ) rallied against the dollar in London morning trading, after the Swiss National Bank (SNB) unexpectedly raised interest rates by half a percentage point to -0.25%, shocking the market which had anticipated rates to remain unchanged. Rising inflationary pressures prompted the SNB's unexpected rate rise, after Switzerland's inflation rate hit 2.8% year-on-year in May, the highest level since September 2008. The SNB also stated that further rate increases are inevitable in the foreseeable future and that the franc is no longer highly valued because of recent depreciation. On the technical front, USD/CHF fell sharply to 0.98, and a double top bearish pattern is increasingly gaining shape, which could indicate a further dip to the neckline support of 0.955. Momentum indicator, as represented by the 14-day relative strength index, tilts dangerously downward and tries to test the 50 mark. Read more...
by Capitalcom
USDCHF Long USDCHF has broken the minor descending channel range and then rebounding harder from the retest area of the channel on the H1, Lastly, the pair bounced from the minor support level on the H4 time frame. USDCHF fell 5000 points from last 2 weeks, we can expect correction now. We taking this trade based on technical analysis and price action. (1) DO NOT ENTER ANY TRADE BEFORE THE ENTRY LEVEL (2) USE YOUR STOP LOSS (3) DO NOT HOLD A LOSS FOR MORE THAN 2 DAYS Please use proper risk management depending on your account size, Use lot sizes based on these calculations. Here is a break down of your pip value in ZAR and Dollars 0, 01 = R1,43 / $0,10c 0. 05 = R 7,15 / $ 0.50 0.10 = R 14,3 / $1.00 1 Lot size = R 146,26 How to calculate Margin = (Lot Size * Contract Size)/Leverage, Lets say your broker gives you 1:500, and you open 0,2 size, How much are you exposing ? calculations : (0.2 * 10 000) / 500 = $4 (R58) also (1 Lot * 100 000) / 500 = $200 (R2 960) So, each time I open (1 Lot size, am exposing R2960 (Down payment) Remember, These are long term trades, It is advisable to have enough margin to handle the fluctuation of the markets. Please like and share for more useful content:
Long
by Pro-Trading-Africa