USDCHF Forecast and Trade Setup For the week 26th May, 2014
USDCHF Forecast and Trade Setup For the week 26th May, 2014
Weekly Chart
- We have continued the bullish momentum last week after rejection from the Monthly Pivot Support few wks ago
- Ichimoku Study - Bearish
Daily Chart
- After flirting around the Resistance area, we managed to break through it. Any retest should perform a bullish candle setup signal on a smaller timeframe
- I have put in another chart with 3 Moving Averages Study,
- Note that we are hitting against the 200 Day Moving Average and very close to next resistance
- I have drawn in some projections on the Daily chart but only vaguely.
- Taking a short is against the strong trend
- Taking a long now - we are hitting resistance soon / and 200MA is hitting right now
- Ichimoku Study - Bullish
Hourly Chart
- Very strong bullish run, where now we will wait for retrace to the broken resistance which should become support together with the ichimoku clouds
Outlook Trade opportunity
Would be interested for a retest of the broken resistance which now should become support., Placing stops on the immediate previous swing lowRisk Level MED - HIGH
Tips -
Always take note of any economical news event on our provided calender below
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