USDCHF

The USDCHF continued its bearish momentum last week bottomed at 0.9652. The bias is bearish in nearest term testing 0.9600. Immediate resistance is seen around 0.9715. A clear break above that area could lead price to neutral zone in nearest term but as long as stay below 0.9785 I still prefer a bearish scenario at this phase and any upside pullback should be seen as a good opportunity to sell.

Since second half of August the USD/CHF pair started to fall sharply and currenlty is trading around 0.97, its lowest level for the recent four and a half months. Indicators on the four hour time frame remain in oversold territory and it seems that bears are trying to keep the donward trend intact. The pair remains contained within the bear channel with bulls finding resistance at the 0.9700 resistance while the bearish target is to recapture the 2018 low at 0.9651.

USDCHF is up up up at the moment. Probably a bit over extended right now but it would be a brave man to sell into it. I will be buying into pull backs

The pair moved to the upside these past month, I think parity would be a good time to go short.

Move up is losing momentum now. It might not make it to parity. If price levels out for a week then I will consider shorting

Sell USDCHF at 0.9985 TP 0.9910

BuddahMan posted:
USDCHF is up up up at the moment. Probably a bit over extended right now but it would be a brave man to sell into it. I will be buying into pull backs

So, am I a brave man :)? Just keep selling USDCHF for almost 2 months.

I have been selling of the parity boundary for the last few days. Easy money. Should be good for another week. Price will brak up eventually but can get some god bounces before that

Blown through parity now and rising. I expect price will rise up further to the key level of 1.0110. I may then short on the touch

Vslav posted:
Blown through parity now and rising. I expect price will rise up further to the key level of 1.0110. I may then short on the touch

Nice setup :)

With a good momentum, the price of USDCHF Spot Forex pair is moving up. Price action is stepping up and Forex traders could easily notice that price action is printing higher swing highs and higher swing lows. Key support level is present at 0.9893 price level, based on most recent swing low in daily time frame of USDCHF.

On Tuesday in Swiss Franc, there was no important news event declaration. Technically; bullish prices could easily move USDCHF towards next resistance target at 1.0300. With reference to the strong up trend, traders should consider only buy trades and no trade against bullish momentum of USDCHF. However; a clear bearish break down in price action below 0.9893 vital support area will end the up momentum. In such type of Forex trading market situation, avoid buying and selling USDCHF and just keep re-analyzing the price movement.