Forex Market Ideas

Technical Analysis – USDCHF Forecast

Hi Traders! USDCHF forecast and technical analysis is here. We do our analysis on the MetaTrader4 platform (MT4). Some very interesting and useful tips and hacks about the MT4 platform could be found here. If you would like to learn more about the way we trade and the technical analysis we use then check out the Traders Academy Club Spoiler alert – free memberships are available!

USDCHF D1(Daily) Chart Analysis – Key Support Zone, Bullish Divergence, Bullish Hidden Divergence

On the daily chart, the price which is moving lower has reached a key support zone formed by the 261.8%(0.87493) Fibonacci expansion level of the first wave and the 61.8%(0.88019) Fibonacci expansion level of the second wave we have. The price respected this key support zone and bounced higher from this zone. We also had a bullish divergence that has formed between the first low that has formed at 0.88217 and the second low that has formed at 0.87571 based on the MACD indicator. Currently, we have a bullish hidden divergence that has formed between the first low that has formed at 0.87571 and the second low that has formed at 0.88706 based on the MACD indicator which we may consider as another evidence of bullish pressure. We may now move down to lower timeframe and see if we can find evidences supporting this bullish view.

 

 

USDCHF H4(4 Hours) Chart Analysis – Bullish Convergence, Downtrend Line Breakout, Strong Support Zone

On the H4 chart, the price has created a bullish divergence between the first low that has formed at 0.88897 and the second low that has formed at 0.88706 based on the MACD indicator. Then the price moved higher and broke above the high at 0.89391 creating higher highs, thus forming a classical setup of bullish divergence followed by bullish convergence. Hence as per the book scenario, after a bullish convergence, we may look for corrections to happen and then further continuation to the upside. Also, the price which is moving higher has broken above the most recent downtrend line which we may consider as another evidence of bullish pressure. So everything looks good here for the bulls and until the strong support zone shown in the screenshot below (marked in blue) holds my view remains bullish here.

(Note: You can learn about a Killer Forex Strategy “Double Trend Line Principle” here)


Technical Analysis & Forecast Summary

USDCHF D1(Daily) Chart Analysis 

  • Key Support Zone, Bullish Divergence, Bullish Hidden Divergence

USDCHF H4(4 Hours) Chart Analysis 

  • Bullish Convergence, Downtrend Line Breakout, Strong Support Zone

 

Trading Tips

It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.

Also, don’t forget to protect your buy trade using a stop loss and make sure to set a target and keep a proper risk/reward ratio.

You will also find a pretty extensive database of educational materials here in the blog – just use the search or check out the Forex Education section above.

Not sure how to enter a trade? Spot reversals (bounces)? Not sure how to spot breakouts?

I invite you to join us in our live market analysis, on daily basis, and improve your trading with us.

Join Traders Academy Club Now

Also, you can get one of our strategies free of charge. You will find all the details here

 

If you have any further questions, don’t hesitate to drop a comment below!

 

To your success,

Vladimir Ribakov
Certified Financial Technician

 

Advertisement

Click To Join Our Community Telegram Group

Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.

Recent Posts

SP500 Short Term Forecast Update And Follow Up

Hi Traders! SP500 short term forecast update and follow up is here. On November 5th,…

16 hours ago

GBPCAD Short Term Forecast And Technical Analysis

Hi Traders! Today I am sharing with you the GBPCAD technical analysis and short term…

19 hours ago

Bitcoin Short Term Forecast Update And Follow Up

Hi Traders! Bitcoin short term forecast follow up and update is here. On August 28th,…

2 days ago

EURNZD Technical Analysis And Short Term Forecast

Hi Traders! EURNZD technical analysis and short term forecast post is here. We do our…

2 days ago

US Futures Signal Wall Street Rally To Extend: Markets Wrap

US stocks looked set to build on their recent advance to record highs as Donald…

3 days ago

Weekly Summary And Review 8th November 2024

Hi Traders! Arvinth here from the Home Trader Club team. The weekly summary and, review of November…

6 days ago