US Dollar Index DXY & USDCHF Potential failing rally on a Cypher Pattern - 27th Oct, 2014
Hourly Chart
Outlook Trade opportunity
The Cypher on the DXY chart is a much better 78.6 where it is at a good Resistance level, however on the USDCHF its not as significant. How we may play this is we can also anticipate that the dollar strength might fail to rally to new highs for the meantime and some weakness is to come. Being the case we could play the majors dollar crosses and find the strongest currency against the USD to go long.
Risk Level __
Tips -
Always take note of any economical news event on our provided calender below
Résuméabuiyad
USDCHF Forecast and Trade setup for the week ending 5th September, 2014
- I was wrong last week where I was monitoring this pair trying to top pick it
- I did not understand or identify the price action where it was travelling inside the resistance zone where previously we only see daily wicks , however we saw the body of the candles and was in the range for a few days. I also did not drill down a lower timeframe and look closely at my support and resistance zones.
Monthly Chart
Weekly Chart
Daily Chart
Outlook Trade opportunity
Looking for Long scalps towards next resistance
Risk Level low
Tips -
Always take note of any economical news event on our provided calender below
Résuméabuiyad
USDCHF - Trade setup - Cypher pattern
Hourly Chart
Outlook Trade opportunity
I have been monitoring this pair for the whole week, as it reach potential resistance. With the market condition favouring a dollar correctionhere is a good area to sell this pair is at the 78.6 - (cypher pattern), and looking towards 0.91
Risk Level LOW
Tips -
Always take note of any economical news event on our provided calender below
Résuméabuiyad
USDCHF Forecast and Trade Setup for the week ending 15th August, 2014
Following my forecast from the 1st of August of my bearish view of this pair, Now a week later, the market had given extremely good signals to confirm that the trend may shift to the downside in the near term.,
Weekly Chart- Stochastic Negative Divergence
- Exhaustion Candle rejection from weekly resistance zone and 38.20 fib
Daily Chart
- Stochastic Crossed over and pointing south
- MACD Crossed Over
- Exhaustion Candles with continuous wicks / and also from the upper channel trendline
- Bearish Harmonic Bat Pattern completing at 88.6 / Resistance zone and which is also a inverse previous swing fib ext of 161.8
- Candle Closed below Tenken-san line (Red line) for the first time since the bullish run
Hourly Chart
- Performed a lower low while breaking resistance
- 30 and 50 SMA crossed
- Negative divergence with RSI under the 50
- Clouds forecast changed to bearish
- Positive Divergence on stochastics - which could be ignored
Outlook Trade opportunity
Clearly we have tons of bearish points (In red) and only one bullish points (in blue), therefore, if your not already in a trade, I would look for price to retrace to a 38.20 fib and look for price action (engulfing/exhaustion/doji etc candle) to take a short position.
Risk Level LOW
Tips -
Always take note of any economical news event on our provided calender below
Résuméabuiyad
