First use of FX Volume in our Market Analysis
Last week we've seen lots of powerful trend moves.
This week seems to be quieter and the market takes a break.
In FX Trend we see a wild mixture of trends across all time frames.
The only pair that is inline on its relevant time frames is USDCHF.
So let's have a closer look on USDCHF and the strength of it's underlying currencies.
Even though the lines are almost clearly separated we see that they stagnate sideways.
The short term 1-Day CHF history line dropped down to the neutral area but the higher periods are still stable.
So let's have a look at the underlying real market trading volume -> get FX Volume here
Based on our analysis of 873,358 real market trading lots we see the following
1. The USD ratio from a Brokers point of view is 25% long and 75% short -> the history line stagnates at this low level since a few hours
2. The CHF ratio from a Brokers point of view is 91% long and 9% short -> the history line rises smoothly
Conclusion: The CHF is still gaining strength while the USD stagnates at a
low level.
This indicates a clear and stable downtrend and short market sentiment for
USDCHF.
Nonetheless it would be better if the USD will move further down to fuel our short trade idea
So let's move on to the support and resistance situation on that pair.
Yesterday's low marked a new support level on the intraday analysis but
there is still plenty
of space for an intraday short trade on USDCHF
And this is how this USDCHF chart looks completely
Attention: This USDCHF trade is still risky because there is currently no
power in the market!
Update 15:30 GMT: Thanks to the FED we are facing a decent profit
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