USDCHF | Perspective for the new weekPrice is currently within a strong supply zone which has a strong memory of selling pressure at around 0.98500. Are we going to be witnessing another selling pressure from this zone this week or a breakout of this zone to the upside will signal a bullish momentum?
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Usdchfsignal
DeGRAM | USDCHF at strong resistence USDCHF is trading in an ascending channel.
The market formed a double top with divergence at a strong resistance level.
Price was rejected by the level, and it is likely to test the support level.
We expect short-term term pullback.
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DeGRAM | USDCHF longUSDCHF moved out of the ascending channel and reached a major resistance.
Price is making higher highs and higher lows.
The market broke and closed above the major psychological level of 0.9800.
We expect a breakout of the level and a test of the resistance.
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USDCHF ShortTime Frame: 4H
Symbol: USDCHF
Entry: 0.96654
TP: 0.95484
SL: 0.97805
Bias: Short
The price pattern is displaying a bearish bias . If we consider the current price actions and the current dynamic trends at macro or micro level, one specific pattern is obvious and that is the upcoming selling opportunity. Considering the sentiment and overall directional bias , we can go for a short set up.
DeGRAM | USDCHF retracementUSDCHF broke and closed below the support level at 0.97000, which became a resistance.
If the market retraces back to resistance, then we can look for shorting opportunities.
A false break is going to be a perfect sell signal.
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USD/CHF: Three black crows erase head-and-shoulders bottomThe dollar-franc pair ( USD/CHF ) is recording its third straight day of losses, and is about to form a "three black crows" pattern, which is characterized by three consecutive bearish red candlesticks with lower highs and lower lows.
A three black crows pattern typically indicates a bull trend reversal and a shift in trader sentiment. This pattern formation on USD/CHF also invalidates the false bullish signal that had been given by the formation of a head and shoulder bottom earlier this month.
MACD also shows a bearish crossover. The last time it happened in July the pair extended the downside movement.
USD/CHF is now testing the lows of August 19 and the next support is given by the psychological level of 0.95 which also corresponds to August 18's lows.
Fibonacci retracement between August 11 lows and September 6 highs has already exceeded the 50% key mark and now stands at 38.2%.
Below 0.95, next supports are given by 0.9491 (23.6% Fibonacci) and 0.9372 which would then complete the retracement to July lows.
Idea written by Piero Cingari, forex and commodity analyst at Capital.com
DeGRAM | USDCHF at psychological levelUSDCHF broke and closed below the psychological level at 0.98000.
The resistance level was retested once, and probably the price will go down to retest the support.
Price action attempted to make new highs but failed and pushed prices back.
We expect pullback from psychological level.
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USDCHF SELLWait for a break of price at 0.98000, if price retests it will minimize the SL, if not, you may also take a short entry i.e sell entry for usdchf for around 40-50 green pips.
Price has made a double top on 1H timeframe, and another of 15M time frame(both shown in the chart), lower timeframe predicts the change of momentum from long to short.
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