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Usdchftrade

USDCHF dropping perfectly towards our profit target,bearishSell below 0.9935. Stop loss at 0.9990. Take profit at 0.9847. Reason for the trading strategy (technically): Price has started to drop really nicely towards our profit target. We look to remain bearish and sell on strength below 0.9935 resistance (Multiple Fibonacci retracement, pullback resistance) for a strong push down to at least 0.9847 support (head and shoulders exit potential, swing low support, Fibonacci extension). Stochastic (34,3,1) is seeing major resistance below 96% and also intermediate resistance at 77% where a further drop is expected.
Short
by MEX_Exchange
USDCHF approaching major support, prepare to buy for a bounceBuy above 0.9493. Stop loss at 0.9451. Take profit at 0.9566. Reason for the trading strategy (technically): Price is now testing major support at 0.9493 (Fibonacci retracement, horizontal overlap support) and we expect to see a bounce above this level to at least 0.9566 resistance (Fibonacci retracement. Stochastic (34,5,3) is fast approaching 6.4% where we expect a bounce from that corresponds to price too. Correlation analysis: USDCHF and EURUSD are negatively correlated. So it is nice to see a bounce on USDCHF and a correlated drop on EURUSD.
Long
by MEX_Exchange
USDCHF profit target reached perfectly, prepare to sellSell below 0.9530. Stop loss at 0.9563. Take profit at 0.9436. Reason for the trading strategy (technically): Price has shot up perfectly and reached our profit target from yesterday. We prepare to sell below major resistance at 0.9530 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance) for a push down to at least 0.9436 support (Fibonacci extension, horizontal swing low support). Stochastic (55,5,3) is right on major resistance at 95%.
Short
by MEX_Exchange
USDCHF testing major support, remain bullish Buy above 0.9527. Stop loss at 0.9500. Take profit at 0.9593. Reason for the trading strategy (technically): Price has dropped strongly after making the bearish channel exit. We prepare to buy above strong support at 0.9527 (Fibonacci extension, bullish price action, channel exit potential) for a push up to at least 0.9593 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (34,5,3) is seeing strong support above 3.6% where we expect a further bounce from. Correlation analysis: EURUSD and USDCHF are negatively correlated, meaning they move in opposite directions. It’s good to see a drop on EURUSD and a corresponding bounce in USDCHF.
Long
by MEX_Exchange
USDCHF bouncing perfectly as expected, remain bullish Buy above 0.9606. Stop loss at 0.9591. Take profit at 0.9569. Reason for the trading strategy (technically): Price has reached our profit target from Friday and has started to bounce off nicely from our buying area yesterday as expected. We remain bullish looking to buy on dips above major support at 0.9606 (Multiple Fibonacci extensions, horizontal swing low support) for a push up to at least 0.9659 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,5,3) is seeing major support above 6% which should hold our bullish move. Correlation analysis: EURUSD and USDCHF are negatively correlated, meaning they move in opposite directions. It’s good to see a drop on EURUSD and a corresponding bounce in USDCHF.
Long
by MEX_Exchange
1
USDCHF dropped perfectly towards profit target, prepare to buy Buy above 0.9606. Stop loss at 0.9591. Take profit at 0.9569. Reason for the trading strategy (technically): Price dropped absolutely perfectly from our selling area last week and is fast approaching our profit target. We prepare to buy above major support at 0.9606 (Multiple Fibonacci extensions, horizontal swing low support) for a push up to at least 0.9659 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,5,3) is seeing major support above 6% where we expect a bounce soon to happen. Correlation analysis: EURUSD and USDCHF are negatively correlated, meaning they move in opposite directions. It’s good to see a drop on EURUSD and a corresponding bounce in USDCHF.
Long
by MEX_Exchange
USDCHF now testing major resistance, prepare to sellSell below 0.9687. Stop loss at 0.9741. Take profit at 0.9602. Reason for the trading strategy (technically): Price shot up yesterday and is now testing major resistance. We prepare to sell below major resistance at 0.9687 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension) for a push down to at least 0.9602 support (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance below 94% where we expect a further drop from. Correlation analysis: EURUSD and USDCHF are negatively correlated, meaning they move in opposite directions. It’s good to see a bounce on EURUSD and a corresponding drop in USDCHF.
Short
by MEX_Exchange
USDCHF testing major resistance, remain bearishSell below 0.9734. Stop loss at 0.9756. Take profit at 0.9675. Reason for the trading strategy (technically): Price is now testing major resistance at 0.9734 (Fibonacci retracement, horizontal overlap resistance) and we expect a strong reaction from this level to drive price down to at least 0.9675 support (Fibonacci retracement, horizontal swing low support, Fibonacci extension). RSI (34) has broken below our long term ascending support-turned-resistance line signalling that a change in momentum is about to be seen in price. It is also now on pullback resistance.
Short
by MEX_Exchange