Hello Traders,
Here is the Top-Down Analysis of USDCHF (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 03 - Jan 18
M > Price has retraced off weekly support. We can see bullish divergence.
W > Price faced rejection with a bullish pin bar. We can see bullish divergence.
D> Price closed the week at weekly resistance, we can expect continuation with upward move.
As per COT CHF is maintaining positive net positions and addition of more Long suggests it to be bullish, however being safe currency its fluctuation is dependent on paired currency. SXY has dropped to daily support last week and it can move bullish if DXY stays weak and vice versa.
4H > We can see inverted H&S with price at neck, a break of weekly resistance will provide nice bullish move with downward trend-line offering first resistance and its break will expose 0.90000 level.
Pair Correlation > USDCHF has positive correlation with USDCAD and negative correlation with EURUSD.
This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions.
Thank You
AP17FX
Here is the Top-Down Analysis of USDCHF (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 03 - Jan 18
M > Price has retraced off weekly support. We can see bullish divergence.
W > Price faced rejection with a bullish pin bar. We can see bullish divergence.
D> Price closed the week at weekly resistance, we can expect continuation with upward move.
As per COT CHF is maintaining positive net positions and addition of more Long suggests it to be bullish, however being safe currency its fluctuation is dependent on paired currency. SXY has dropped to daily support last week and it can move bullish if DXY stays weak and vice versa.
4H > We can see inverted H&S with price at neck, a break of weekly resistance will provide nice bullish move with downward trend-line offering first resistance and its break will expose 0.90000 level.
Pair Correlation > USDCHF has positive correlation with USDCAD and negative correlation with EURUSD.
This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions.
Thank You
AP17FX