We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
Oil - US Crude
Mixed
Bitcoin
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • (Asia Pacific AM Briefing) GBP/USD Price Aims for October High as NZD/USD Rate Soars $GBPUSD $NZDUSD #Brexit #RBNZ - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2019/11/12/GBPUSD-Price-Aims-for-October-High-as-NZDUSD-Rate-Soars.html?CHID=9&QPID=917702 https://t.co/vXSDQ6WgBW
  • Australian NAB Business Confidence (OCT) Actual: 2 Est: N/A Previous: 0 #AUD
  • $AUDUSD shares a statistically significant positive correlation with $NZDUSD and could see its price fluctuate in the event of a surprise from the RBNZ. Get your market update from @PeterHanksFX here: https://t.co/ipgT4vRgnP https://t.co/SflIKyrxZW
  • Heads up: Australian NAB Business Confidence (OCT) is due at 0:30 GMT (15 min) Est: N/A Previous: 0 #AUD
  • Join @IlyaSpivak 's #webinar at 8:00 PM ET/1:00 AM GMT to prepare for the week ahead in trading the $AUDUSD Register here: https://t.co/sZNWPVRHA0 https://t.co/zmgYkwMfzm
  • Over the past 30 days, #IDR has been the best performing Asian Currency vs. USD with +0.02% interest-returns while #JPY has been the worst with -0.00%
  • Lookout below?! #bubbles #Sweden https://t.co/Rj4OxfyU72
  • Makes sense in context: the average DTI in Sweden is over 330% and housing prices have risen over 170% since 2002. (Values explained) Below -1.5: Depressed Between -1.5 and -0.5: Undervalued Between -0.5 and 0.5: Fair-Valued Between 0.5 and 1.5: Overvalued Above 1.5: Bubble Risk https://t.co/JhF8eQkDpf
  • #LITECOIN Daily Pivot Points: S3: 53.8 S2: 57.26 S1: 59.23 R1: 62.69 R2: 64.18 R3: 67.64 https://www.dailyfx.com/pivot-points?ref=SubNav?CHID=QPID=917720
  • The $USD enjoyed support from haven demand through most of 2019. Investors may now be attracted by its yield advantage as global market mood improves. Get your market update from @IlyaSpivak here:https://t.co/VqM4kinKYJ https://t.co/Rlc2O97NcV
USD/CHF Technical Analysis: Daily Marubozu into the Selling Zone

USD/CHF Technical Analysis: Daily Marubozu into the Selling Zone

2016-04-13 19:00:00
James Stanley, Currency Strategist
Share:

To receive James Stanley’s Analysis directly via email, please sign up here.

Talking Points:

In our last article, we took a cautious look at USD/CHF. The primary point of emphasis for the lack of a clear setup in the previous article was the persistent support that had set in off of the .9550 Fibonacci level, which is the 38.2% retracement of the most recent major move (taking the May 2015 low to the November 2015 high). As of our last writing, support had built off of this Fib level for three of the previous four trading days, and after another four days of price action around this level we’ve finally seen a bounce in price that may lead into another short re-entry.

We had also listed the zone from .9660-.9700 as the area of interest for future short positions, and price action has just run into this zone off of this morning’s strength in the pair. There is just one problem: Price hasn’t slowed down. We don’t yet have evidence of resistance as today’s Daily candle is currently showing as a ‘Marubozu.’ A marubozu is a one-candle formation with no wick on the top or bottom that signals a strong, one-directional move, and that’s what today’s daily candle in Swissy is showing. The marubozu indicates extreme strength or extreme weakness, and this is generally something that traders want to avoid ‘fading’ when at all possible.

So, the good news is that a short entry may be nearing ifresistance shows in this area within the next couple of days; but the bad news is that traders likely don’t want to fade a maubozu candle as that signals significant strength. So some patience may be required for that next short entry.

But given the veracity of today’s strength, this can allow us to re-adjust our selling zone to include a major psychological level of .9750. So, should resistance show in the next couple of days between .9660-.9750, traders can look to a price action trigger as short entries can be investigated with the aim of down-trend continuation.

USD/CHF Technical Analysis: Daily Marubozu into the Selling Zone

Created with Marketscope/Trading Station II; prepared by James Stanley

--- Written by James Stanley, Analyst for DailyFX.com

To receive James Stanley’s analysis directly via email, please SIGN UP HERE

Contact and follow James on Twitter: @JStanleyFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.