Trade Idea Update: USD/CHF - Buy at 0.9930

Candlesticks and Ichimoku Intraday |

Written by Action Forex |

Nov 17 16 11:12 GMT

USD/CHF – 1.0000

Original strategy :

Buy at 0.9930, Target: 1.0050, Stop: 0.9895

Position : –

Target :  –

Stop : –

New strategy  :

Buy at 0.9930, Target: 1.0050, Stop: 0.9895

Position : –

Target :  –

Stop : –

As the greenback has eased after meeting resistance at 1.0058, suggesting consolidation below this level would be seen and pullback to 0.9970-75 and then 0.9945-50 is likely, however, reckon support at 0.9929 would limit downside and bring another rise later, above said resistance at 1.0058 would extend early erratic rise from 0.9444 to 1.0075-80 and later towards 1.0100. 

In view of this, would not chase this rise here and we are looking to buy dollar on subsequent pullback as support at 0.9929 would contain downside. Below previous resistance at 0.9897 (now support) would defer and risk correction to 0.9860-65 later.

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

Trade Idea Update: USD/CHF - Buy at 0.9930