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EURCHF Possible retracement and new supportWe'd a ascending channel with a resistance making higher highs, however the bottom line of support of the channel was crossed. So we put a horizontal support, to check what could happen to the price, and with this support we can see a possible retracement. We can also see the EMA line is changing the direction. And about the MACD indicator, the support had already been touched and both lines are changing the direction And if you zoom the chart, you'll the before the full body bullish candle we and an inverted hammer during the downtrend, so we have some informations where this trend could truly change the directions and go in a Long strategy
Long
by AFCapital21
USDCHF is reaching for parity againThe USDCHF can be relatively slow-moving compared to other major forex pairs. However, we have seen some significant moves since March this year. In fact, the most recent April monthly candle was the largest bodied candle in almost seven years. Albeit April’s candle moved in the USD’s favour rather than the francs. In April, The USDCHF opened at 0.922 and closed at 0.973. As of writing, the USD is again approaching parity with the Swiss franc, trading at 0.998. Last month, the pair was rejected at 1.001 and closed lower on the month (0.959). This movement occurred after inflation in Switzerland rose faster than expected and landed further outside the Swiss Central Bank’s (SNB) target of 0-2% per annum. With inflation in Switzerland at a 14-year high of 2.9%, the Swiss Central Bank’s rhetoric concerning interest rate hikes has ramped up. But, Switzerland still has the lowest interest rate in the world (-0.75%), and the SNB’s rhetoric has been mild and equivocal, especially compared to the US Federal Reserve. Thus the USDCHF has forced its way into parity territory in June. A monthly time-frame analysis indicates that the pair may be able to sustain a push through this zone of resistance at parity for June and beyond. The Coppock Curve indicator, found on the graph above, helps gauge long-term trends. When we see the Coppock Curve move above zero, it is to be interpreted as a continuing uptrend. It is not typically used on the smaller time frames because it doesn’t show accurate divergence signals. The Coppock Curve is just below 10 on the monthly time frame, which is the highest it has been since January 2015. After which, the curve plummeted. Those familiar with forex history may know of the SMB’s decision that day. After that event, the Coppock Curve still indicated rising prices with this pair, which ultimately came true for almost the next two years.
by BlackBull_Markets
The competition between the dollar and the franc is very tough! Let me describe USDCHF in one word: “GOLD-Related” Since more than 25% of Switzerland's money is backed by gold reserves, gold has a negative correlation with USD/CHF. When gold goes up ( so CHF does), USD/CHF goes down. When gold goes down, USD/CHF goes up. So, analyze XAUUSD before entering any position in this pair and remember, GOLD price is highly related to the news. After all, we are around an almost strong level, You can enter a long position after confirmation. Breaking the downtrend level is necessarily. Important resistance on the way are WVMA of 100 4H and a static levels around 0.9235. I suggest a two level TP points.
Long
by AliSignals
4
GBPCHF Long 300 Pips!Hello Traders, Here we have a GBPCHF long trade idea. If you like this idea please show your support! GBP This trade idea is based off the fact that the Pound (GBP) is reaching a weekly low since the end of September 2021. We are expecting some strength as this is approaching a structure level & this will give us a double bottom reversal pattern indicating we are expecting a possible reversal which we do not want to miss! This GBP weakness can be seen across other GBP pairs, for example GBPUSD below : In the chart above you can see a very long wick in the candle indicating less seller and more buyers in the market, this is key indication of a potential reversal as we can see a lot of weakness in the trend and price is struggling to push down any further. This may be another pair you want to consider taking a look at as this also has a very similar potential to GBPCHF. CHF Swiss Franc (CHF) weakness can be seen as price is hitting resistance in its bull run and we can see much weakness across many CHF pairs, for example my previous USDCHF trade idea I shared last week has made progression, but the price as returned to the entry point due to slight CHF strength however this gives us this opportunity to enter in this other pair. If you want to improve your trading, do not hesitate to send me a message! Please trade with caution and make sure you set your stop losses! Happy Trading 😁 Be sure to check out my other ideas below!
Long
by Pips-Collector
9