USD/CHF

this thread is quiet today...what is going on?

Good short probability as the pattern could be broken in the direction of the trend.

Noticed chf weakened against euro in the last couple of days. Any idea why?

Anyone else wants to weigh in on the direction of this pair today?

Its looking preety bullish since price is in a bullish swing....dont for price in a pennant...so pay close attention to that...as long support hold dont plan on going bearish.

Could you please tell me what is the support, in terms of usdchf price. Currently it's going at 1.0050s. Thanks.

Can anyone explain why usdchf shot up like that Friday, when all the economic news seemed be positive towards the european currencies? Only thing is that citigroup and google's earnings were better than estimates, which sent the Dow way up. But usdchf starting shooting up way before the US market opened.

I took trade long because price was holding major support from daily chart below us...(purple fibb)

And support was being help from the intraday long fibb...(green one...price also escaped a wege thats why it also exploded.

The pair retraced back to 1.0174 at the end of the session. What's your prediction where it will go Monday (Sunday night your time)?

Well remember that their is a couple of candles will be missing in the charts since the american brockers dont show it but of this...this is what i believe...
Well as long as my intraday holds we are bullish...but we have reashed the high of the prurple fibb so look at price action when it attempf to break it if it does...If it does not i will simply get the reversal on it...

There are 3 purple lines in your chart, and I am assuming you are referring to the very top one, to see if the market opens Monday will attempt to break that line or not? If it goes and breaks it, it will continue to be a bullish trend; otherise, the pair will become bearish. Am I understanding you right? I can't see the number in the chart. Could you please tell me what the price number is at that purple line? Thanks.

Yep sorry i could answer untill now...but did you see how price reversed after that...

Price is looking overall bearish since we have impacted a bearish trendline...also price has found resistance at the intrday fibb....if you take short pay attention to yellow itrendline and be aware of the support fibbs...redones........look at price action near that area....

What's the update on this pair? It didn't go down that much Monday sessions.

- daily trendline resistance originating from December 2007
- 100-day EMA coming at the same levels as the trendline resistance mentioned above
- 50% retracement of move originating from 14th February held on a closing basis
- A-B-C correction of the move originating from 14th February points at 1.0471 resistance where AB=BC
- daily upchannel mobile resistance is currently present in the 1.0500 zone
- RSI bearish divergence on the dailies related to the move originating from 14th February
- daily volume decreasing during A-B-C correction
- bulls power oscillator shows double bearish divergence on the dailies in both waves originating from December 2007 (it means that the bulls are giving everything they've got but they can't take the pair higher)
- broadening formation turned into a diamond formation on the hourlies pointing to 1.0170 as target of reversal.

In my opinion, if the FOMC rate announcement doesen't deliver a real surprise (case which is close to impossible because the market is already pricing in a hold and a 0.25% rate cut, while a bigger cut would be USD-negative) look to get short at current highs 1.0420 adding at 1.0480, stop loss 1.0530 and targeting 1.0170. After that we will see what happens. Remember, the market has already priced in the best-case scenario for the USD (that is a hold in the FOMC rate announcement) which means there is not much to go to the upside unless a real surprise develops. In my opinion, this is a classic "buy the rumour - sell the fact" scenario.

Somebody was saying something about a correlation of USD/CHF with EUR/USD... if he reads this, I will mention that the EUR/USD is currently testing up-channel support on the daily chart while showing a bullish hidden RSI and CCI divergence, while the CCI has bottomed and turned up in oversold territory (for who has a sense of observation, he will see that every time this happened in the past months, the EUR/USD put up a rally at least untill the recent highs!). So the correlation exists, only that the future reversal in the direction of the trend is much more clear when analysing USD/CHF. Although the trend seems to have come to an end, I believe that over the next month we will see the highs again, maybe another two times.
P.S.: the break below 1.5700 is unsustainable, if you want to get short than use the 1.5800-1.5850 area but keep tight stops because if the market made new highs at the last rally, it will try to make new highs again.

My believes in this currency is that price got near a very strong trendline from the daily chart.That make it bearish.....also price has gotten preety close to my monthly targets and i expect a pullback thats the info i get from the daily chart

Chart1 Daily



Chart 2 1 hour


The informationg we are getting in the one hour chart is that the market is looking bullish. The reason why its because intraday levels of resistance did not hold....now I am Looking to see if support levels hold and they seem hold...My trading for this currency is bullish Bias. The as long as my support hold during stronger makets such as franky or london...

Also the eur/usd is currently looking bearish for me...

Eur/usd is looking bullish to meagain so that add seeling presurre in my head for the bearish side on usd/chf...

Resistance was brocken on eur/usd

So far haven't seen the bearish trend in action yet. If anything, it's turned a bit upward. Japanese market is closed today for holiday.

Read the post above i edit it a couple of hours ago...i said buliish bias...read it again