What happened? It looks like the decline in EUR/CHF to 1…
CHF/JPY reversed from combined support zone
2019-11-11 • Updated
- CHF/JPY reversed from combined support zone
- Next buy target - 115.00
CHF/JPY recently reversed up strongly from the combined support zone located between the key support level 112.70 (which has been reversing the price from May), lower daily Bollinger Band and the 50% Fibonacci retracement of the previous sharp upward impulse from April. The upward reversal form this support zone created the daily Japanese candlesticks reversal pattern Bullish Engulfing. Given the strength of the aforementioned support zone - CHF/JPY is expected to rise to next buy target at the next resistance level 115.00.
Similar
What happened? Japanese shares fell on Monday…
The US Dollar has been losing value against the Swiss franc for more than a month now. Let's examine where it might be going.
Latest news
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...