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Usdchfforecast

USDCHF Strong Breakout Setup - Possible Buy TradeHello Everyone! Looking at the lower time frames USDCHF is making new lows and lower highs, so far price has reached mutli-sessions downtrend line where I see hidden divergence, there are possible 2 cases here, Case 1: Market may fell and makes a double bottom and then carries on testing prior highs, so in this case execute trade once it breaks the trend line. Case 2: Keeping bigger picture in mind, where momentum is positive on higher time frames, scope is there that the market may break out the trend line and visits the highs straight away, in this case wait for an expansion bar, breaking the trend line and closing above it. This is it for now, hope it helps understanding the idea. Thank you for your support. Good luck and trade safe!
Long
by UmarAbdurRehman
Entry for SellWe have here two scenarios FIRST: the price is being rejected in a relevant resistance which does not manage to break or overcome significantly since November 7, so I am looking for a rejection candle to go on sale until level 50 of the fibo that I trace, getting about 40 pips approximately. SECOND: my second scenario is the formation of a double ceiling, to wait for the price to reach the neck 0.99086 break with selling force and the price will look for the range of 0.98219. as an extra we have the RSI reaching the overbought area
by KaluWallSt
USDCHF Forecast: Capped by the parity levelSNB announced its interest rate decision last week and kept its ultra-accommodative monetary policy unchanged as expected. The statement came out as expected by the market players. Swiss National Bank maintained its ultra-accommodative monetary policy unchanged, with the interest rate on sight deposits remaining fixed at -0.75%, and the three-month Libor target range at -1.25% to -0.25%. It also indicates that it will continue to intervene as needed in the foreign exchange market. It still considers that the Swiss franc is “highly valued” even though the currency has depreciated slightly in a value weighted by foreign trade. This is due to the strengthening of the dollar, while the franc hasn’t changed much, remaining at a high level against the euro. Wednesday; FED’s rate hike decision and FOMC Statement will be announced. It is widely expected a rate hike from FED that should bring the overnight target range to 2.25%–2.50%. The key outcome of the post-rate decision press conference is the economic and the monetary policy outlook Powell is going to pursue. If the Fed chairman indicates a pause in the rate hiking cycle now, a decline in DXY and Dollar Sell-off mya start. Looking at the matter technically As seen on the above Daily Chart, the pair capped by the parity level 1.0000. The pair ended the week at 0.98840, RSI at 54 headed North on the Daily Charts. Above the current level, if the pair breaks out the parity, the targets of the Bulls will be 1.00400, 1.0065 and 1.01110. On the smaller chart timeframes, the pair tested SMA 200 on H4 Chart at 0.99900. A firm closing above the parity level may be the confirmation of the bullish continuation. On the H1 chart, a bearish Black Swan and Butterfly formations send a bearish correction signal. A break below 0.99760 can send the pair 0.99500 and 0.99200 levels which are shaped by EMA 50 and MA 20 on H4 Chart. We will send the fresh entry signals to our members as soon as we get confirmations on the smaller charts.
by chartreader_pro