USD/CHF - Most of the majors are brewing to further movement!
Technical aspects:
At this current moment of time we are within the range of - Support: 0.89970 & Resistance: 0.92000 (You could play the range play until it breaks) If we break below: 0.89970 we could even formed a bear flag.
However, For further development regarding CHF Pair - An Inverse H&S appears, for this current moment of time it looks like it is creating the right shoulder but we must keep in mind the 50 EMA.
For further bullish momentum and confirmation, above 50 EMA and above 0.92550 area whilst measuring the length of inverse H&S - we read the target of next resistance area which matches perfectly with a Fib retracement area + trendline down = 0.93300 area.
(Keep in mind - this will be a counter trend move - risk management is key).
Fundamental aspects regarding Dollar: The FX markets has been guided by rallying equities and precious metals but now the equity market lacks the bullish momentum (I've posted my analysis regarding SPX - Please go look for further information regarding equities) and weeks ago as the Fed has lowered expectations for now. For that reason I could see SHORT TERM bullish USD. Now, I don't think we will see any stimulus until near elections and key questions is - Has the Feds created a Bubble and has it lost its bullets...YET?!
Fundamentals Calendar this week 21st Sept - 25th: Fed Powell will be speaking and testifying Monday to Thursday. Be careful whilst trading.
Remember: Just a trade idea, not a recommendation.
Have an excellent week ahead.
All the best,
Trade Journal
Technical aspects:
At this current moment of time we are within the range of - Support: 0.89970 & Resistance: 0.92000 (You could play the range play until it breaks) If we break below: 0.89970 we could even formed a bear flag.
However, For further development regarding CHF Pair - An Inverse H&S appears, for this current moment of time it looks like it is creating the right shoulder but we must keep in mind the 50 EMA.
For further bullish momentum and confirmation, above 50 EMA and above 0.92550 area whilst measuring the length of inverse H&S - we read the target of next resistance area which matches perfectly with a Fib retracement area + trendline down = 0.93300 area.
(Keep in mind - this will be a counter trend move - risk management is key).
Fundamental aspects regarding Dollar: The FX markets has been guided by rallying equities and precious metals but now the equity market lacks the bullish momentum (I've posted my analysis regarding SPX - Please go look for further information regarding equities) and weeks ago as the Fed has lowered expectations for now. For that reason I could see SHORT TERM bullish USD. Now, I don't think we will see any stimulus until near elections and key questions is - Has the Feds created a Bubble and has it lost its bullets...YET?!
Fundamentals Calendar this week 21st Sept - 25th: Fed Powell will be speaking and testifying Monday to Thursday. Be careful whilst trading.
Remember: Just a trade idea, not a recommendation.
Have an excellent week ahead.
All the best,
Trade Journal
评论:
At a key area..!