USD/CHF daily chart

[jgallagher33]

Looks like sometime next week the USD/CHF may rally up to SK resistance and a downsloaping trendline. Could offer up possible shorting opportunities or if this dollar rally pushes through those levels this chart becomes bullish.

Joe

[FibMaster]

Yes, great chart! A rally to that SK resistance would be an attractive shorting zone for sure. Good one!

Also, there is some intra-day resistance at about 1.107 that might give some near-term short profits if that resistance can hold. It's too early to call for that trade though.

[r-factor]

[QUOTE=FibMaster;338]Yes, great chart! A rally to that SK resistance would be an attractive shorting zone for sure. Good one!

Also, there is some intra-day resistance at about 1.107 that might give some near-term short profits if that resistance can hold. It's too early to call for that trade though.[/QUOTE

Fibmaster,



I think there is a potential short setting up. The daily sk res at 1.11 area was tested and could not hold. TRSI is down.

On the four hour chart, both SK supports of the up move from 1.0726 to 1.113 has been breached. The trend line has also been broken. The TRSI is down and is slightly coming up (maybe a pull back).The chart is making lower highs and lower lows.

Also, on the four hour chart, we also have sk res at the 1.09 area of the most recent down move.

On the hour chart, we have a few more sk resistances and one is being tested right now (1.092 area). The TRSI is still up but seems to be making a down move. However, the price may go a bit more to the four hour res. If this one hour resistance does not hold, I think we can most def short this chart.

Some exit targets that I calculated from the 4 hour chart are 1.084 and 1.075area.

Given the current economic situation, I reckon we will see some unwinding of carry trades. Thus, we may see the 1.075 area being reached as investors start selling the USD.

I am looking for this setup to materialise! Should be profitable!:D

p.s. Please let me know if my trade set up is on the right track.:)

[r-factor]

The Charts...

[r-factor]

Hi again..

I cant get the charts bigger on the forum so you can go here http://r-factor-chartsandlikes.blogspot.com/ to see them. Its not very professional, I am warning you :)

[r-factor]

Well the down move did not materialise, but the break of the trend was not bad:D

[FibMaster]

The Charts...

The chart size is great. Thanks for posting.

[FibMaster]

Well the down move did not materialise, but the break of the trend was not bad:D

The 4-hour chart is trying to make lower swing highs and lows. Not much momentum, so I'm not very confident of it moving down much (yet).

jgallagher33 posted a trade at the start of the thread. That one is still possible if the CHF chart can rally that far.