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Thread: USDCHF technical analysis analysis

      
  1. #1
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    Thumbs up USDCHF technical analysis analysis

    Hi María here. I am glad to share a new week with you.

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    USDCHF




    General situation:

    Despite the quite successful start, on February 20 the USD/CHF pair has lost positions gained and moved down to the lower border of Ichimoku Cloud, forming the “dead cross”. The current signal for BUY-deals is confirmed but weak as the Chinkou Span is located below the price chart and the price has failed to overcome the Ichimoku Cloud. Therefore, the first support level 0.9099 is considered as target for downside movement. Nevertheless, as long as the Ichimoku Cloud has not been overcome, it is recommended to refrain from entering the market. In case this level has been overcome, the second support level 0.8998, which is considered as new target for descending movement, will be available. The downward movement continues as long as the price is located below the Kijun-Sen (0.9215). While bearish trading it is recommended to set Stop Loss higher than Kijun-Sen. In case the price goes higher than this line, the signal for SELL-deals will weaken. Therefore, the further descending movement will be questioned. Chinkou Span remains lower than the price chart confirming the current signal for SELL-deals and indicating the bearish mood of the USD/CHF pair. Bollinger Bands shows the beginning of downside trend, lines are expanding and directed downwards. Therefore, it is recommended to consider short positions. MACD is directed downwards indicating the current descending movement and enabling short positions. Nevertheless, it is recommended to enter the market only when the signal for BUY-deals has been strengthened.

    Trading recommendations:

    As to CHF operations it is recommended to consider SELL-deals with first target seen at the 0.9099 level but only after the breakdown of the Ichimoku Cloud. When this level has been overcome, the next target for short positions will be seen at the 0.8998 level. Stop Loss is to be placed higher than 0.9215. In case this line goes downwards, Stop Loss can be placed after it. While opening the short positions MACD must indicate descending movement. With profit of 50-60 pips Stop Loss can be placed to zero area. Take Profit can be set higher than target levels.

    Apart from the technical picture it is necessary to consider the fundamental data and the time of its release.

    Have a great day!

    María

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  2. #2
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    Default Re: USDCHF technical analysis analysis

    USD/CHF
    Daily Pivots: (S1) 0.9167; (P) 0.9186; (R1) 0.9214

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    Default Re: USDCHF technical analysis analysis

    Intraday bias in USD/CHF remains on the downside for a test on 0.9089 support and break will target 0.9065 key support level. As noted before, while we'd not too confident yet, we're still mildly favoring the case that rebound from 0.7065 is finished at 0.9594 on bearish divergence condition in daily MACD.

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    Default Re: USDCHF technical analysis analysis

    Sell at 0.9116
    Take profit* at 0.9062
    Stop loss at 0.9142

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    Default Re: USDCHF technical analysis analysis

    USD/CHF
    Daily Pivots: (S1) 0.9073; (P) 0.9126; (R1) 0.9166

    Intraday bias in USD/CHF remains on the downside for 0.9065 support. Break will affirm the case that rebound from 0.7065 is finished at 0.9594 on bearish divergence condition in daily MACD. In such case, deeper fall should be seen to 0.8567 support for confirmation.

  6. #6
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    Default Re: USDCHF technical analysis analysis

    Daily pivots USD/CHF here
    (S1) 0.9002; (P) 0.9036; (R1) 0.9072

  7. #7
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    Default Re: USDCHF technical analysis analysis

    Here USD/CHF updated
    Daily Pivots: (S1) 0.9002; (P) 0.9036; (R1) 0.9072

    With 4 hours MACD crossed above signal line, intraday bias in USD/CHF is turned neutral for the moment. Downside momentum is unconvincing with mild bullish convergence condition in 4 hours MACD.

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