US500: A further correction towards 5192 before resuming purchases.
Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
USD/CHF: trade six-year lows
2020-12-17 • Updated
You’ve probably been thinking “What’s happening to USD/CHF”, right? Well, trading at 0.88, this pair is at the six-year lows. The interesting thing is that during 2020, USD/CHF dropped from above 1.00 to this level – that’s the amplitude of this currency’s trade during all these years, and it went from the multiyear resistance to the multiyear support just in 12 months. Now, if it drops the same distance downwards in the next year, that will bring it to 0.78 – as low as ever in the last 20 years, with only 2011 being the only time when it plunged that deep.
How to trade that? Technically, there is little evidence to suggest that the trend will stop any soon. The only thing to note is that the last ten days present a nice equilateral downward channel – that may be useful if you want to do scalping and see the currency pair bounce from one side to another. Fundamentally, watch precisely 0.8800 – that’s a psychological level, a key threshold. If there is a spot where the downtrend may stop – or reverse – it probably will be there around 0.8800. Once and if you see the currency pair approach that level, look for reversal signs – bulls may take over. Otherwise, generally, a continuation of this downward trajectory is to be taken as a primary scenario.
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US100: Consolidated and preparing correction below 18100. Key levels on H4!
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WTT: Currency Pairs To Trade In April
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.
EURUSD: Seeking liquidity in weekly selling zones. Key intraday levels.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
