Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
USD/CHF: approaching the bottom?
2021-05-27 • Updated
Mid-term
As you can see on the H4 chart of USD/CHF, the price has been consistently going down since at least the beginning of April. Currently, it trades above 0.8950 having bounced off this support. What's the likely next move? That's the case when we have to look for the answer in a larger timeframe.
Long term
The strategic view shows that the currency pair is at seven-year lows now. 0.8950 is only slightly higher than the range 0.87-0.88 - the true bottom the pair may be dropping to. Therefore, expect the possibility of further downswing until it enters this support range. However, once it goes below 0.88, watch for the upside reversal chart patterns as it is likely to rise and float towards 1.00 again - as it's been doing during the last seven years.
Similar
Bearish Scenario: Sell below 39600... Anticipated Bullish Scenario: Intraday buys above 39750... Bullish Scenario after Retracement: Intraday buys above 39150
Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
Latest news
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
Bearish scenario: Sell below 2200 / 2194 ... Nearest bullish scenario: Buy above 2197... Bullish scenario after retracement: Consider buys around each indicated demand zone