Opinion of USD/CHF

[usgalla]

USD/CHF has formed an Inverse Heads & Shoulders Formation with Ideal Target at 1.177x Levels. 161.8 % Fibonacci Level is at 1.1736. So we can probably expect the move till 1.173x or 1.177x.

Time Frame Used 1H

 

[usgalla]

The Moves on Monday negates the Inverse Heads & Shoulders Pattern seen earlier. A upward channel has been formed and the price is currently near the lower line of the Channel. Needs to be seen whether we break the lower line to move down further or retrace back towards the upper trend line. I would prefer shorts below the lower Trend line.

Image : USD/CHF 4H

 

[usgalla]

USD/CHF has broken down from a Minor Trend Channel marked in Blue. Ideal Target of which should be 1.1100 Levels. However there is a a Major Trend Channel marked here in Red at 1.131x Level which would act as a support and possibly try to break the fall. Short term shorts could be considered.

 

[jeffsmith]

1,1494. USD CHF is in a consolidation after the last bearish movement. The volatility is high. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CHF. The price should find a resistance below 1,1570 (76 pips). The downtrend should continue on 1,1400 support (94 pips).
We won't take a position. The risk/reward ratio is too high to take a position.
Resistances
1,1530 - 1,1565
Supports
1,1490 - 1,1400

 

[jeffsmith]

1,1494. USD/CHF is in a consolidation following the most recent bearish movement. The volatility is high. The price should locate a resistance below 1,1570. The downtrend must carry on 1,1400 support It’s not good to take a trade position.

 

[options]

I have a buy above 11470ish
Sell below 11370ish

Tbh. Don't care which way it goes.


Think I favour up though.

 

[jeffsmith]

It won't be a position. The actual configuration is not clear enough to follow the trend.
Resistances
1,1450 - 1,1530
Supports
1,1400 - 1,1350

 

[usgalla]

I think that now we have decisively broken out of the trend channel marked in Red. Shorts can be considered for the next couple of days.

 

[jeffsmith]

The downtrend should continue on 1,1350 support (56 pips). If the support smashes then only the target will be 1,1250 (156 pips).
We can’t seek for a trade or movement. The actual configuration is not pretty clear to follow the trend.
Resistances
1,1450 - 1,1530
Supports
1,1400 - 1,1350

 

[usgalla]

The downtrend should possibly continue. Considering the facts that EUR/USD looks in the uptrend & USD/CHF has broken below the channels.