USDCHF Technical Analysis 09.06 - 16.06 : Possible Rally after Bearish

 

The price was on correction with bullish primary and crossed all support line on the way. So, in the end of the week the price crossed last support leve (Sinkou Span B line) for priorary reversal to bearish. Chinkou Span line is very near to be crossed with the price from above to below which is indicating that this trend was not finshed yet and may be continuing for the next week.

Ichimoku cloud is very thin one, and Chinkou Span line (one of the Ichimoku boder) is located very near to historical price ready to go to any side. If the price will break 0.9225 support line so we can expecit the continuation of the last week trend. If price will break 0.9433 resistance level so we can expect good breakout with the trend reversal to bullish once again.

  • Recommendation for long: watch the price to break 0.9433 resistance (for D1 timeframe) for good breakout
  • Recommendation to go short: watch the price to break 0.9225 for last week's trend continuing
  • Trading Summary: possible rally


UPCOMING EVENTS (high/medium impacted news events which may be affected on USDCHF price movement for the next week)

2013-06-10 07:15 GMT | [CHF - Retail Sales]

2013-06-10 13:50 GMT | [USD - FOMC Member Bullard Speaks]

2013-06-11 05:45 GMT | [CHF - SECO Economic Forecasts]

2013-06-12 06:30 GMT | [EUR - German CPI]

2013-06-13 08:00 GMT | [EUR - ECB Monthly Bulletin]

2013-06-13 12:30 GMT | [USD - Retail Sales]

2013-06-14 09:00 GMT | [EUR - CPI core]

2013-06-14 12:30 GMT | [USD - PPI core]

2013-06-14 13:55 GMT | [USD - University of Michigan Consumer Confidence Index]


Resistance
Support
0.9374
0.9341
0.9386
0.9249
0.9433
0.9225




SUMMARY : ranging

TREND : bear market rally


Intraday Chart



 
newdigital:

UPCOMING EVENTS (high/medium impacted news events which may be affected on USDCHF price movement for the next week)

2013-06-10 07:15 GMT | [CHF - Retail Sales]

2013-06-10 13:50 GMT | [USD - FOMC Member Bullard Speaks]

2013-06-11 05:45 GMT | [CHF - SECO Economic Forecasts]

2013-06-12 06:30 GMT | [EUR - German CPI]

2013-06-13 08:00 GMT | [EUR - ECB Monthly Bulletin]

2013-06-13 12:30 GMT | [USD - Retail Sales]

2013-06-14 09:00 GMT | [EUR - CPI core]

2013-06-14 12:30 GMT | [USD - PPI core]

2013-06-14 13:55 GMT | [USD - University of Michigan Consumer Confidence Index]



The situation was slightly changed for now on D1 timeframe: price came to primary bearish by close bar in ranging market condition (similar with flat for example). But it was breakdown on lower timeframe so Chinkou Span line is indicating future possible breakdown. if the price will break 0.9225 final support line from above to below so we may have good possibility to open sell trade for this week.


MetaTrader Trading Platform Screenshots

USDCHF, D1, 2013.06.11

MetaQuotes Software Corp., MetaTrader 5, Demo

possible bearish

USDCHF, D1, 2013.06.11, MetaQuotes Software Corp., MetaTrader 5, Demo


 

Last week trend is continuing and we do not have any correction yet - price broke 0.9225 support line and next support level to be broken is 0.9173. It should be the correction (bear market rally) anyway ... but when ...

MetaTrader Trading Platform Screenshots

USDCHF, D1, 2013.06.13

MetaQuotes Software Corp., MetaTrader 5, Demo

usdchf possible rally

USDCHF, D1, 2013.06.13, MetaQuotes Software Corp., MetaTrader 5, Demo


 

UPCOMING EVENTS (high/medium impacted news events which may be affected on USDCHF price movement for the next week)

2013-06-10 07:15 GMT | [CHF - Retail Sales]

2013-06-10 13:50 GMT | [USD - FOMC Member Bullard Speaks]

2013-06-11 05:45 GMT | [CHF - SECO Economic Forecasts]

2013-06-12 06:30 GMT | [EUR - German CPI]

2013-06-13 08:00 GMT | [EUR - ECB Monthly Bulletin]

2013-06-13 12:30 GMT | [USD - Retail Sales]

2013-06-14 09:00 GMT | [EUR - CPI core]

2013-06-14 12:30 GMT | [USD - PPI core]

2013-06-14 13:55 GMT | [USD - University of Michigan Consumer Confidence Index]



We will have Retail Sales to day for USD at 12:30 GMT (14:30 Metaquotes demo server time) so everything can be changed with USDCHF after this time for example. read the post about this news event.

 
newdigital:


We will have Retail Sales to day for USD at 12:30 GMT (14:30 Metaquotes demo server time) so everything can be changed with USDCHF after this time for example. read the post about this news event.

Actual value is 0.6% ... US Retail Sales is here on the chart:


 

This was the results - about 30 pips in profit:


Are you still thinking that we do not need to trade high impacted news events? :)

 

US Retail Sales ... continuing


 
newdigital:

US Retail Sales ... continuing


It would be great to have possibilities to make annotations on chart without having to edit the screenshot.
 
angevoyageur:
It would be great to have possibilities to make annotations on chart without having to edit the screenshot.
Yes, it may be good to have simple painter incl text inside metatrader 5.
 
newdigital:

Last week trend is continuing and we do not have any correction yet - price broke 0.9225 support line and next support level to be broken is 0.9173. It should be the correction (bear market rally) anyway ... but when ...


bear market rally (correction within bearish) is finally started on open bar for D1 timeframe

MetaTrader Trading Platform Screenshots

USDCHF, D1, 2013.06.14

MetaQuotes Software Corp., MetaTrader 5, Demo

usdchf d1 rally on open bar

USDCHF, D1, 2013.06.14, MetaQuotes Software Corp., MetaTrader 5, Demo


and it is already going on for H4 timeframe on close bar

MetaTrader Trading Platform Screenshots

USDCHF, H4, 2013.06.14

MetaQuotes Software Corp., MetaTrader 5, Demo

usdchf h4 rally on close bar

USDCHF, H4, 2013.06.14, MetaQuotes Software Corp., MetaTrader 5, Demo

If this rally will be continuing for H4 timeframe so we may see gpood breakout (H4 timeframe) which may be good to open buy trade for example. How to know about it exactly? When blue line on the left side of the chart (this is Chinkou Span line) will cross historical price from below to above so it may be good time to open buy trade.
 

Forum

Press review

newdigital, 2013.06.14 09:56

We are going to see USD PPI today:

2013-06-14 12:30 GMT | [USD - PPI core]

actual > forecast is good forr currency (currency is USD in our case). Past data is 0.6%, forecast is 1.4%, actual data will be uploaded here at 12:30 GMT time today (14:30 metaquotes demo server time).

===========

Friday preview: Eurozone CPI and US PPI due out :


2 minutes left ...