Hi
Well im a beginner but i actually like to trade usdchf. they have a nice moves up and down.
When we get the news like this below, how do you trade and what does it means correctly and how eould you trade it:
$-Swiss @ 1.2396/01.....Bearish bias.
R: 1.2410-16 / 1.2454
S: 1.2362-57 / 1.2333
There was further fall to a low of 1.2379 in the $-Swiss and with this the pair stays bearish biased currently. Now on the downside the important Support would be coming in at 1.2362-57, the latter being the 200-MA on the 4-Hourly charts. A break below this would see the pair target 1.2333, which is the statistically projected Max Low for the day.
On the upside strong Resistances are coming in at 1.2410-16 and then at 1.2454. The Bearish view holds at the moment but traders should short only on rallies now.
Thanx
Well im a beginner but i actually like to trade usdchf. they have a nice moves up and down.
When we get the news like this below, how do you trade and what does it means correctly and how eould you trade it:
$-Swiss @ 1.2396/01.....Bearish bias.
R: 1.2410-16 / 1.2454
S: 1.2362-57 / 1.2333
There was further fall to a low of 1.2379 in the $-Swiss and with this the pair stays bearish biased currently. Now on the downside the important Support would be coming in at 1.2362-57, the latter being the 200-MA on the 4-Hourly charts. A break below this would see the pair target 1.2333, which is the statistically projected Max Low for the day.
On the upside strong Resistances are coming in at 1.2410-16 and then at 1.2454. The Bearish view holds at the moment but traders should short only on rallies now.
Thanx