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USDCHF Price Action Analysis – 14th July 2017

USDCHF after showing huge selling pressure, it has not been on correction on the Daily chart. However, the H4 chart suggests that the pair might offer us a long entry if we have an upside breakout. Let us have a look at the H4-USDCHF chart and find out the levels that we need to keep our eyes on….

As we can see on the chart that the H4 candles produced a “Double Bottom” at 0.96000. Then, the price came down for correction and made another bullish move up to 0.96850. The level of 0.96630 seems to be a level, which has the potential to be the support level here to make a breakout towards the upside. If we get the breakout from that level, then buying the pair should get us some green pips. Summary of the trade…

• Buy Stop Order: 0.96850
• Stop Loss Level: 0.96600
• Take Profit Target: 0.97250
• Validity: 72 hours
• Whenever possible, move the stop loss to the entry price and whenever you want, you can take profit anytime as long as you feel comfortable

Many retail traders seem to believe that Friday is not a good day to trade. It is not really the truth. First NFP, which is released on Friday makes the market move a lot. Not only that it is often seen that pairs make huge move even on other Fridays (non NFP) if things stand accordingly. I mean if there is a chart that is nicely poised technically then there is no reason that the pair would not move. However, if we are not swing trader, we should come out with our entries (profit or loss) before the market closes for the weekend.

We hope that you enjoy our Free Forex Trading Signal today: USDCHF Price Action Analysis – 14th July 2017

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