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USDCHF generally ranged from May 2018 until last week, and owing to a sudden surge of stamina in USD, price skyrocketed, reaching the high of 1.0066. The test of that high is significant because the last time price reached that level was May 2017. What happen in May was followed by a protracted bearish movement.
Since the high of the year (1.0066) was tested, price has shown a sharp reversal, shedding 60 pips and closing at 1.0002 on July 13. Price might attempt to go further upwards, but it would encounter stiff opposition around the high of 1.0066. Even there will be stiffer opposition above the high of the year, like the resistance levels at 1.0150, 1.0200 and 1.0250. Therefore, the probability of price going southwards within the next few weeks is far higher than the probability of it going northwards.
The following signal has triggered:
Sell USDCHF
Entry price: 1.0010
Stop loss: 1.0266
Take profit: None
Exit date: August 13, 2018
Additional signals will be announced as they are identified.
If you wish to follow these signals then remember:
1. These are long-term signals
2. Entry levels are approximate, but do not “chase the market”
3. If entering at a better level, adjust the SL to maintain the distance shown
4. Do not risk more than 1% of your account per trade
5. Positions must be closed manually on the exit date shown
6. Signals are provided for information purposes only
7. Signals should not be construed as trading advice
RECENT RESULTS
July 2018
USDCHF Sell, Open =
NZDUSD Buy, Open = -20 pips
NZDJPY Buy, Open = 89 pips
NZDCHF Buy, Open = 32 pips
Disclaimer: Trading signals are provided for information purposes only and shouldn’t be construed as trading advice.
Source: www.tallinex.com
