ActionForex.com
Dec 21 18:41 GMT

Sponsors

Forex Expos

Trade Idea Update: USD/CHF - Sell at 0.9180 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Sep 19 13 13:29 GMT
USD/CHF - 0.9108


Original strategy                                       :

Sell at 0.9180, Target: 0.9080, Stop: 0.9215

Position: -
Target:  -
Stop:-


New strategy  :

Sell at 0.9180, Target: 0.9080, Stop: 0.9215

Position: -
Target:  -
Stop:-

As the greenback has remained under pressure after yesterday's selloff to previous support at 0.9130-47 due to dovish FOMC minutes, suggesting recent decline from 0.9839 (2013 high) is still in progress and may extend further weakness to 0.9090 (approx. 1.618 times projection of 0.9341-0.9225 measuring from 0.9279) and possibly to 0.9060-65 (2 times extension of 0.9455-0.9302 measuring from 0.9371) but reckon near term oversold condition would limit downside to 0.9040-50 and price should stay above psychological support at 0.9000.

In view of this, we are looking to sell dollar on recovery as the Kijun-Sen (now at 0.9179) should limit upside. Only above previous support at 0.9225 would defer and suggest a temporary low is formed, risk correction towards the Ichimoku cloud (now at 0.9260-61) before prospect of another decline.

 

About the Author

Candlesticks Intraday Trade Ideas Update Schedule (GMT):
1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530
Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF

Elliott Wave Daily Trade Ideas Update Schedule (GMT):
AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1430 - 1500 GMT

Advanced Candlesticks and Ichimoku Strategies for Forex Trading

For the first time, our Action Forex analysts are revealing the strategies they use in formulating the trading ideas in our popular Candlesticks and Ichimoku Analysis section. These strategies are presented in our newly released ebook "Advanced Candlesticks and Ichimoku Strategies for Forex Trading." Don't miss this opportunity in learning these techniques that professional traders use. Download both Part I and Part II NOW!

Facebook MySpace Twitter Digg Delicious Google Bookmarks 

Trade Ideas

Candlesticks Trades
Elliott Wave Trades

Forex Brokers

ActionForex.com © 2014 All rights reserved.