USD/CHF Triple bar rejection at resistance

1 June, 2016

The USD/CHF is bound in a ranging market just as EUR/USD. As we could see in this article, the EUR/USD is meant to go up (as it is going) and that normally means USD/CHF down due to a negative high correlation.

Technically we can spot a triple pin bar rejection off the H3 resistance and it looks like a failed inverted head and shoulders. Due to a range that USD/CHF is currently in we might see a good r:r if the pair proceeds down. 0.9940-50 is the zone where we could see a rejection and as long as the pair is below 0.9975 targets are 0.9900 and 0.9870. Additionally traders should pay attention to ADP today.


Source link   Presented by Admiral Markets

USD/CHF after the breakdown

Last week USD/CHF broke below the uptrend support line of 2018. It's now providing resistance for the price at 0.9965. Another obstacle on the upside is...

USDCHF profit target reached perfectly

Price has shot down perfectly from our selling level and reached our profit targets. We prepare to buy above major support at 0.9598 (Fibonacci retracement...

USDCHF approaching major resistance

Price has reached our profit target perfectly from Monday. We prepare to sell below major resistance at 0.9770 (Fibonacci extension, horizontal swing...


USDCHF dropping perfectly

Price has started to drop really nicely from our selling area and we remain bearish for a further drop below 0.9735 resistance...

USDCHF testing major resistance

Sell below 0.9956. Stop loss at 0.9975. Take profit at 0.9896. Stochastic (34,5,3) is seeing descending resistance...

Dollar/Swissie Eyes Parity

USD/CHF is eyeing a break back below parity and if this is seen, look for the 200 day...


USDCHF at major resistance

The major news item driving USD today is the Nonfarm Payrolls. The Nonfarm Payrolls measures the change in the number of people...

USDCHF look to buy on strong support

Reason for the trading strategy (technically): Price continues to test major support at 0.9925 (Fibonacci retracement...

USDCHF profit target reached, time to start buying

Price dropped once again perfectly as expected and reached our profit target. We now turn bullish above 1.0071 support (Fibonacci retracement, horizontal support) for a push up to 1.0124 resistance (Fibonacci retracement, horizontal overlap resistance)...

  


Share it on:   or