Usdchfsell
USD/CHF ReversalTechnical Analysis
Looking for a reversal and to ease into some short term positions for USD/CHF, some great low risk short opportunities have present themselves.
RSI: Holding Over 70 indicating the currency is still being overbought, however have had a sharp declined indicating bears gaining momentum.
MACD: Giving off a valid short signal, as can be seen through the crossing of the MACD line through the Signal line.
Something of note is the massive disparity in the volume indicator; we can see on Thursday May 10th we had a huge spike in volume in USD/CHF and have dropped significantly which suggests less interest in the currency usually associated with 'sell signals', although its not indicative in itself therefore should be utilised with other indicators.
USDCHF Fallen star candlewick at 4H TF Hi guys,
I've been following this trade carefully for awhile since it has gone thru the previous high.
After the NFP news, the chart has started a reversal and if you look at the 4H TF, you can see there is a fallen star candle wick. Hence, i believe that USDCHF will have minor dip to just above the 0.618 level.
That said, I think this trade is still on an upward trend, so i will be watching closely once it has hit the 0.618 level for the next trend.
T/P at 0.9420
S/L at 0.9555
R:R 1.3
Please don't trade more than 2% of your capital
Hope you gain some profit out of this idea
Cheers!
USDCHF: Safe heaven vs Russian Linked Investigation & NFPFundamental:
CHF have not much happening rather than just easing monetary policy, mixed economic data. Best of all it is not much related to North Korea
USD have many Fundamental factors such as rate hike in Mid Dec 2017 (might already priced-in), President Trump linked to Russian investigation and huge event this week is NFP.
Technical:
Pair has been on the downward channel after the upward channel was broken mid-Nov 2017.
Clear download channel is in progress with strong bear markets.
Note:
USE PO SELL at entry
Strongly advised to close the trade before NFP this Friday
USDCHF Good SellUSDCHF is showing a nice selling opportunity on the dialy time frame. It has broken a support and is now heading towards the lower range. Chances of this lower range to break are high because Stoch shows a fresh bearish cross over and on the ADX indicator you see the red line (bearish trend) is about the take over the green line! So this has a chance to be a great sell.
TP: 0.9845
TP2: 0.9760
Stop: 0.9980