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USDCHF WILL RISE TO HIGHS

Technical Tools
Resistance and support lines, Trendlines, Price action, Candlestick Pattern, MACD, RSI, rectangle.
USDCHF Weekly Chart
  • The MACD on the weekly chart is in the positive zone.
  • The RSI is rising.
The pullback is due in the pair but the pair has broken out of the falling weekly trendline. I am sure that the pullback will be supported by the rising trendline and will push the price to the highs near 1.0300 levels.
USDCHF Daily Chart
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UPDATE-1
The pair has ended the week at .99247. The MACD is in positive territory and looking good. The RSI is not in good shape and headed South. The pair has tested the falling trendline and it acted as support. The break of previous high will take the pair close to our target at 1.0225.

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UPDATE-2
The pair is struggling to rise any further. Although the bias is bullish I think it will take a little more time to reach the target of 1.0225. A cup and handle formation is taking place.

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UPDATE-3
We expected the pair to rise to new highs but the good data from United States even failed to take the pair to new highs. it is now consolidating and is range bound. Our target price of 1.0225 seems to far to reach.

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GBPUSD WILL BE RANGEBOUND

Technical Tools
Resistance and support lines, Trendlines, Price action, Candlestick Pattern, MACD, RSI, Ellipse.
GBPUSD Weekly Chart
  • The MACD on the weekly chart is in the positive zone.
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UPDATE-3
The pair is currently trading at 1.3334 at the time of writing this update which is 100 pips above our level of 1.3230. I expect the pair to rise to 1.3400 levels before falling back to 1.3250. Until now the pair is moving as per expectations. Next week the collision with the falling trendline at 1.3400 will decide the fate of the pair. I am bearish on the pair and would love to sell it at 1.34000 levels.

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UPDATE-4
The pair is currently trading at 1.3325 at the time of writing this update which is 96 pips above our level of 1.3230. The pair made a high of 1.3383 before falling to the open price of today. If it closes day below 1.3325 then it will make a gravestone doji at the falling trendline, which is a very strong signal that sellers have jumped into the market. Now we can sell the pair with the stop loss above 1.3383 and target 1.3230. I hope the chart makes the thing more clear.

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UPDATE-5
The pair is finding it difficult to stay above the trendline that it has broken a few days ago. On Friday the pair closed at 1.33789 making a bearish engulfing candle on the daily chart.Now the pair is at the confluence of the rising and falling trendline. It may act as a support, but if it doesn't then the pair may fall to 1.32500 level which is also our target for 2nd Jan.

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UPDATE-6
The pair tested 1.3305 today and the last significant low is at 1.3303. I will say a close below 1.3303 is required on the daily chart to expose 1.3035 levels. Such pairs are a beauty to trade.

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UPDATE-7
After making a high of 1.3550 last week the pair has made a low of 1.3303. We need a good reason for further sell off in the pair. So I am expecting the pair to settle the month near 1.3400 levels. To reach our target of 1.3230 there is need of a catalyst which may not get during holidays.

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19 JAN 2017 | GBPUSD BUY

Hello fellow community members,
Today GBPUSD seems to be consolidating after a strong up move. I have placed a buy order in the pair with stop loss below the day low as the RSI and 50 periods moving average are supporting the pair.

GBPUSD 4H CHART


  • MACD is showing buy
  • RSI is rising.
  • Stochastic is also buy mode.
Any suggestions or comment about the trade are welcome.
Happy trading to all.
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1 JAN 17

Hello fellow traders, I wish you all a very happy and prosperous new year. May this year be profitable for everyone.
Today I have pulled up my EURUSD chart for you which doesn't look in a good shape for trading. A lot of selling pressure and despite of a 270 pips rally in last three days the pair failed to close above the crucial resistance of 1.0550. Now the downside is 1.0375.
If it breaks that level and closes a daily candle below then I am not sure till what level it can go. As a technical a…
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