1 hour chart of USD/CHF

I think you should not miss the break and retest scenario created in the 1 hour chart of USD/CHF. The pair is in a downtrend and the falling trend line is still intact. At this moment, the pair looks like it is ready to touch the trend line once again and, with the 61.8 percent Fib level colliding with a former support level; it seems the pair is going to retrace the area. You should also notice that all of these are happening within the range of a major psychological level at .9300.

EUR/AUD seems determined in its making of new lows. The descending channel in the 1 hour chart of the pair is strongly held. The pair has just touched the top, but a bullish divergence is not allowing it to get to the bottom area. The pair may test the channel resistance once again or if the divergence dies, it could head to the bottom for testing the channel support.

Another trend line and Fib combination is happening in the 1 hour chart of EUR/GBP. As the pair is maintaining a falling trend line for the past week, a quick pullback is being formed at this moment. The major psychological level of .8400 has lined up with the 50 percent Fib retracement level, which acted as a strong resistance level. Stochastic is already getting lower; I think the pair will do the same too. Keep an eye on the chart for placing your short orders.

Bullish flag pattern in the 1 hour chart of USD/CHF

Potential Forex TradesĀ http://www.topfxandbinary.com/potential-forex-trades/

Be the first to comment

Leave a Reply

Your email address will not be published.


*