Buy above 1.0000. Stop loss at 0.9946. Take profit at 1.0100.
Reason for the trading strategy (technically):
Price has dropped perfectly and reached our profit target as expected. We prepare to buy above 1.0000 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a push up to 1.0100 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is fast approaching support at 4% where we expect a bounce from.
Correlation analysis: EURUSD and USDCHF are negatively correlated, meaning they usually move in opposite directions. We’re expecting a drop in EURUSD which goes in line with the rise we’re expecting on USDCHF.
Reason for the trading strategy (technically):
Price has dropped perfectly and reached our profit target as expected. We prepare to buy above 1.0000 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a push up to 1.0100 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is fast approaching support at 4% where we expect a bounce from.
Correlation analysis: EURUSD and USDCHF are negatively correlated, meaning they usually move in opposite directions. We’re expecting a drop in EURUSD which goes in line with the rise we’re expecting on USDCHF.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.