The Swiss Franc pulled back against the US Dollar yesterday but prices failed to reclaim a foothold above support-turned-resistance at 0.9038, the 38.2% Fibonacci expansion. A daily close above this barrier initially exposes the 50% level at 0.9081. Alternatively, a reversal below support at 0.8986, the 23.6% Fib, eyes a rising trend line set from mid-December (now at 0.8950).
On balance, positioning is little-changed from yesterday, with prices oscillating in a choppy range around familiar levels and offering little by way of a discernibly attractive trade setup. We will keep to the sidelines for now, waiting for something actionable to emerge.
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AUDCHF Technical Analysis (based on StraightTalkTrading.com article by Kaye Lee)
Accelerating Downtrend in AUD/CHF "Bounce-or-Break" Scenario on Daily Chart 3 Ways to Trade This Short Set-up
AUDCHF is not a pair that often features in most traders' considerations, but it may well be setting up for a nice move soon. The weekly chart below shows a downtrend that has accelerated over the past year, as evidenced by the steeper trend line. Although there is almost certainly divergence regardless of which indicator is used, even a single weekly candlestick downwards could potentially yield 150 pips or more. Given how long this trend has been in force, it is certainly wiser to go with the downward flow rather than bet against it.
The recent momentum that has caused price to barrel into the resistance zone is cause for concern. Thus, an additional level of resistance has been estimated using the Fibonacci expansion tool. This provides a smaller resistance area (0.8090-0.8134) within the larger zone, but given how close the top is to the larger zone, the final preferred risk zone is 0.8090-0.8141. This zone is only 51 pips in depth, which is acceptable on the risk side of the equation.
It is worth noting that by targeting a smaller resistance zone, the trade may actually miss triggering by just a little before shooting down, but that is a trade-off that more conservative traders must accept. Aggressive traders, on the other hand, could still use the original blue box on the hourly chart, provided they are extremely defensive in their trade management.
Trades on both time frames may be initiated using bearish reversal divergence, pin bars, and/or bearish engulfing candlesticks as triggers. Two or three attempts should be made to get onto the move.
баллон — стеклянная банка ёмкостью от двух до пяти литров. впоймать — поймать. купорка — консервы, домашние заготовки. пиндитный — привередливый, разборчивый, педантичный пластушка — вид отделочного камня. реготать, рыготать — смеяться, особенно громко. синенькие — баклажаны. пузанина — часть туши. шулюм — похлебка из мяса или рыбы.
бадлон, бодлон — тонкий джемпер, водолазка. вовсюда — всюду, везде. водогрей — газовое или электрическое водонагревательное устройство. жировка — счет на оплату коммунальных услуг. жлыга — штука (о любой вещи). крокодил — шпаргалка большого размера с написанным на ней ответом. кура — курица. точка — одноподъездный жилой дом в семь и более этажей. тэшка — маршрутное такси. шаверма — местный вариант названия ближневосточного блюда.
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The Euro is attempting to launch a reversal against the British Pound, with prices testing above resistance in the 0.8295-0.8309 area (marked by a falling trend line set from December and the 23.6% Fibonacci retracement). A daily close above this barrier exposes a longer-term trend line set from August, now at 0.8367. Alternatively, a turn below support at 0.8255, the 14.6% Fib expansion, targets recent swing lows in the 0.8167-87 area.
Risk/reward considerations argue against entering long while prices trade squarely at resistance while entering short would presume that the upside barrier will necessarily hold, a baselines assumption for the time being. We will hold off on taking a position for now.