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Usdchfidea

USDCHF Daily analysis, Price directionHello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ The USD/CHF pair has been against a strong resistance zone at 0.92300 - 0.92500 with multiple top formations. USD/CHF went to the low of 0.9108 on August 4, after breaching 23.6% Fibonacci retracement, at 0.9192 However, the spot made a swift recovery back to the high of 0.9242 only to retrace toward 0.8140 in the previous week. 2 Different Scenarios for price movement in the next few days Scenario 1 : The price is trending close to the resistance line at 0.9164 a breakout of that line could indicate a change in the movement of the pair and the price could be headed near the second resistance zone at 0.92200 in the 23.60% Fibonacci level, and from there the Bulls will have to show a lot of support for the price to break that zone and change the trend. Scenario 1 : The price is getting closer to the support line at 0.9148 if the bears were able to break that line then a sudden change in price will happen and the bears will have enough moment to drive the price to near the 0.91100 support in the 50% Fibonacci level, where a test for the Bears power will happen and if they proved that they still hold control then most likely the price will drop below the 61.80 Fibonacci level and will be hitting the 0.90670 zone Technical indicators are showing that : 1) The market price just dropped below the 5 10 MA and EMA, we could be seeing a small bearish movement, The price is still above the 20 50 100 200 MA EMA. 2) The MACD is above the 0 line Showing a Bullish state in the market, with a positive crossover between the MACD line and The Signal Line. 3) The ADX is at 22.39 showing that the market is currently trending, With a positive crossover between the DI+ (23.54) and DI- (21.30). Support & Resistance points : support Resistance 1) 0.91480 1) 0.91640 2) 0.91100 2) 0.92200 3) 0.90670 3) 0.92870 Fundamental point of view : After touching the high of 0.9240 in the overnight session, USD/CHF continues to trade higher in the Asian trading hours on Friday The pair hovers in a narrow trade band with an upward bias. The appreciative move in the US dollar sponsored the move in the pair. The US dollar index remains strong above 93.00 The US Initial Jobless Claims fell for the third consecutive week, the readings came at 375K in the week ended on August 7 whereas, the Producer Purchase Index (PPI) gained 1% in July, higher than the market forecast of 0.6%. Meanwhile, Kansas City Federal Reserve President Esther George said that the time had come to end the central bank’s asset purchase program. On the other hand, the Swiss franc surrenders gains against the stronger US dollar. As for now, traders are waiting for the Swiss Producer and Import price, US Michigan Consumer Sentiment data to gauge the market sentiment. According to Fxstreet This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
by GabiDahduh
USDCHF SwingWe have seen this setup multiple times today and this past week. Its the same setup I used to profit off XAUUSD, USDJPY and USDZAR. My assumption is no different because price is setting-up exactly as my entry criteria demands. We see price is at a key level, Momentum has slowed down forming a sloping correction (but the RSI is showing us a Bullish Divergence - Indicating an imminent bullish reversal). The angle of bearish price movement is more smoother now than it was before, supporting the idea of dropping bear momentum. As always, I will wait for a clear 8 & 14 EMA cross over on a lower timeframe, followed by a trendline break, in order to make an entry. Potential Risk:Reward ratio is 1:3 *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are crucial. #Trade_Like_A_Magnate
Long
by Magnatrio
USDCHF buy opportunityA good buy opportunity is unfolding for usd/chf. Currently trading in an ascending channel. Another attempt for the top of the channel is going to happen soon. The aim is to trade Wave C of this correction. I am looking to enter at 0.91 and at 0.9055 with SL at 0.902 (conservative SL = 0.896) . This will be an aggressive trade, with a stop loss at 0.90. The RR is 7.42 from the 0.5 fib level and 18.62 (magical) at the 0.618. The target of wave C is 0.966, however i will look to lock in some profit at 0.946 and let some to ride the last bit. After this rally, sentiment will be positive for trades affectionate to USD, unfortunately a massive crash will follow with a great SHORT opportunity for years. Any question do not hesitate to comment or ask. If you like the content share and follow me for updates. Remember NO financial advices, just educational purposes.
Long
by CFcryptoTA
Short Vision on USDCHF for 22/07/2021Hello Dear Traders, You find below my analysis for USD/CHF, the currency pair is in the sell zone. I expect the price to fall. According to my set of rules, in the M30 frame USD/CHF will fall to 0.9086 as I am showing in my chart. Our Daily Goal is 0.907. Currently,USD/CHF is moving towards the resistance level of 0.91462 ,where there is some liquidity from this value we are looking for short-term selling opportunities of USD/CHF. Good Luck and enjoy your Bearish Market for today. Entry:@ 0.914 TP1: @ 0.912 TP2: @0.91 TP3: @0.908 SL: @0.917 As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment. Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
UShort
by HugoAJROUCHE