ActionForex.com
Jan 17 00:46 GMT

Sponsors

Forex Expos

Trade Idea Wrap-up: USD/CHF - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jan 11 17 16:27 GMT
USD/CHF - 1.0236


Most recent candlesticks pattern : N/A

Trend                                    : Near term down


Tenkan-Sen level                  : 1.0202

Kijun-Sen level                    : 1.0188

Ichimoku cloud top                 : 1.0153

Ichimoku cloud bottom              : 1.0147


New strategy  :

Stand aside

Position : -

Target :  -

Stop : -


As the greenback has surged again after brief pullback and broke above indicated previous resistance at 1.0221, adding credence to our view that the fall from 1.0335 has ended at 1.0087 last week, hence consolidation with upside bias is seen for further gain to 1.0270-75 but a break above resistance at 1.0291 is needed to retain bullishness and suggest early upmove has resumed for headway to 1.0335-44 resistance area.

In view of this, would not chase this rise here and would be prudent to stand aside in the meantime. Below the Kijun-Sen (now at 1.0188) would defer and risk weakness to 1.0150-55 but break of latter level is needed to signal an intra-day top is formed and suggest the rebound from 1.0087 has ended, then fall towards support at 1.0111 would be seen first.

 

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 © 2017 All rights reserved.