USDCHF Technical Analysis 09.06 - 16.06 : Possible Rally after Bearish
UPCOMING EVENTS (high/medium impacted news events which may be affected on USDCHF price movement for the next week)
2013-06-10 07:15 GMT | [CHF - Retail Sales]
2013-06-10 13:50 GMT | [USD - FOMC Member Bullard Speaks]
2013-06-11 05:45 GMT | [CHF - SECO Economic Forecasts]
2013-06-12 06:30 GMT | [EUR - German CPI]
2013-06-13 08:00 GMT | [EUR - ECB Monthly Bulletin]
2013-06-13 12:30 GMT | [USD - Retail Sales]
2013-06-14 09:00 GMT | [EUR - CPI core]
2013-06-14 12:30 GMT | [USD - PPI core]
2013-06-14 13:55 GMT | [USD - University of Michigan Consumer Confidence Index]
The situation was slightly changed for now on D1 timeframe: price came to primary bearish by close bar in ranging market condition (similar with flat for example). But it was breakdown on lower timeframe so Chinkou Span line is indicating future possible breakdown. if the price will break 0.9225 final support line from above to below so we may have good possibility to open sell trade for this week.
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possible bearish
Last week trend is continuing and we do not have any correction yet - price broke 0.9225 support line and next support level to be broken is 0.9173. It should be the correction (bear market rally) anyway ... but when ...
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usdchf possible rally
UPCOMING EVENTS (high/medium impacted news events which may be affected on USDCHF price movement for the next week)
2013-06-10 07:15 GMT | [CHF - Retail Sales]
2013-06-10 13:50 GMT | [USD - FOMC Member Bullard Speaks]
2013-06-11 05:45 GMT | [CHF - SECO Economic Forecasts]
2013-06-12 06:30 GMT | [EUR - German CPI]
2013-06-13 08:00 GMT | [EUR - ECB Monthly Bulletin]
2013-06-13 12:30 GMT | [USD - Retail Sales]
2013-06-14 09:00 GMT | [EUR - CPI core]
2013-06-14 12:30 GMT | [USD - PPI core]
2013-06-14 13:55 GMT | [USD - University of Michigan Consumer Confidence Index]
We will have Retail Sales to day for USD at 12:30 GMT (14:30 Metaquotes demo server time) so everything can be changed with USDCHF after this time for example. read the post about this news event.
This was the results - about 30 pips in profit:
Are you still thinking that we do not need to trade high impacted news events? :)
US Retail Sales ... continuing
US Retail Sales ... continuing
It would be great to have possibilities to make annotations on chart without having to edit the screenshot.
Last week trend is continuing and we do not have any correction yet - price broke 0.9225 support line and next support level to be broken is 0.9173. It should be the correction (bear market rally) anyway ... but when ...
bear market rally (correction within bearish) is finally started on open bar for D1 timeframe
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usdchf d1 rally on open bar
and it is already going on for H4 timeframe on close bar
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usdchf h4 rally on close bar
newdigital, 2013.06.14 09:56
We are going to see USD PPI today:
2013-06-14 12:30 GMT | [USD - PPI core]
actual > forecast is good forr currency (currency is USD in our case). Past data is 0.6%, forecast is 1.4%, actual data will be uploaded here at 12:30 GMT time today (14:30 metaquotes demo server time).
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The price was on correction with bullish primary and crossed all support line on the way. So, in the end of the week the price crossed last support leve (Sinkou Span B line) for priorary reversal to bearish. Chinkou Span line is very near to be crossed with the price from above to below which is indicating that this trend was not finshed yet and may be continuing for the next week.
Ichimoku cloud is very thin one, and Chinkou Span line (one of the Ichimoku boder) is located very near to historical price ready to go to any side. If the price will break 0.9225 support line so we can expecit the continuation of the last week trend. If price will break 0.9433 resistance level so we can expect good breakout with the trend reversal to bullish once again.
UPCOMING EVENTS (high/medium impacted news events which may be affected on USDCHF price movement for the next week)
2013-06-10 07:15 GMT | [CHF - Retail Sales]
2013-06-10 13:50 GMT | [USD - FOMC Member Bullard Speaks]
2013-06-11 05:45 GMT | [CHF - SECO Economic Forecasts]
2013-06-12 06:30 GMT | [EUR - German CPI]
2013-06-13 08:00 GMT | [EUR - ECB Monthly Bulletin]
2013-06-13 12:30 GMT | [USD - Retail Sales]
2013-06-14 09:00 GMT | [EUR - CPI core]
2013-06-14 12:30 GMT | [USD - PPI core]
2013-06-14 13:55 GMT | [USD - University of Michigan Consumer Confidence Index]
SUMMARY : ranging
TREND : bear market rally
Intraday Chart