USDCHF
broke higher in this week as expected into wave 5 of 3) that found resistance
just beneath 0.9500 mark. A reversal from that high is quite strong so we think
it's part of a deeper pull-back but still only a corrective retracement. We are
talking about red wave 4) that could reach levels around 0.9390 before uptrend
resumes. 0.9390 was also a swing low of wave four of one lesser degree, then we
also see there a 38.2% retracement Fibo support and around these levels
wave 4) distance would equal to wave 2). As such it's worth to keep an eye on
0.9390 level that could cause a bounce.
USDCHF Technical Analysis - Sell at 0.9955
USDCHF made a nice bull move from 0.9716 to 0.9990. Then USDCHF drops from over bought zone. USDCHF is trading below its 20 period MA on 4h ...
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Our pivot point is at 3.47. Our preference: as long as 3.47 is support look for 4.22. Alternative scenario: the downside breakout of 3....
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Pivot: 0.825 Our preference: Short positions below 0.825 with targets @ 0.82 7 0.8175 in extension. Alternative scenario: Above 0.825 lo...
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Pivot: 21.45 Our preference: SHORT positions below 21.45 with targets @ 20.6 & 20.35. Alternative scenario: The upside penetration of 21...
