USDCHF remain bullish

13 January, 2017

Buy above 1.0101. Stop loss at 1.0052. Take profit at 1.0184.

Reason for the trading strategy (technically):

Price reversed beautifully above our stop loss level yesterday. We remain bullish above 1.0101 support for a push up to 1.0184 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (21,5,3) is seeing a bounce above 9.3%.

Reason for the trading strategy (fundamentally):

The main news event driving the USD today is the U. of Michigan Confidence. It assesses consumer confidence regarding personal finances, business conditions and purchasing power based on hundreds of telephone surveys. A low or falling University of Michigan Sentiment value is considered an early indicator of an economic downturn. We’re expecting a higher value which means a stronger USD, which goes in line with our bullish USDCHF trade.

The other news event driving USD today is the U.S. Advance Retail Sales which is a monthly measure of sales of goods to consumers at retail outlets. The figure is a significant market mover, valuable both for its timeliness and insight into consumer demand and consumer confidence. We’re expecting a positive value here meaning more consumer spending and confidence, leading to strength in the USD. This would go in line with our bullish USDCHF view we have today.


Source link   Presented by Exness

USD/CHF slides farther below 0.9900

The USD/CHF pair traded with a negative bias through the early European session on Friday and is currently placed at the lower end of...

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...

  


Share it on:   or