CHF/JPY Daily Price Forecast – 18th Feb 2020

CHF/JPY Daily Price Forecast – 18th Feb 2020

CHFJPY produced a bullish daily candle at a support zone yesterday. On the H4 chart, today’s first H4 candle came out as a strong bearish candle closing within that level of support. As of writing, the current H4 candle has been bullish. If the candle closes as a bullish reversal candle forming at double bottom support, the buyers may go long on the pair above the neckline level. Let us have a look at the H4 CHFJPY chart.

This trade idea was generated by our powerful Elite Swing Trader System on an H4 time frame.

CHF/JPY Daily Price Forecast – 18th Feb 2020

CHF/JPY Daily Price Forecast – 18th Feb 2020

The chart shows that the price had a bounce at the level of 111.710 yesterday. Today’s first candle closed within the level as well. This is a sign that the level may produce a double bottom. If the price heads towards the North and makes a breakout at the level of 111.950, the buyers may trigger a long entry to grab some green pips. The price may head towards the level of 113.070 but may consolidate around the level of 112.570. Let us have a look at the summary of the trade…

  • Buy Limit: 111.737
  • Stop Loss: 111.326
  • Take Profit: 112.103

The market has been sluggish to start this week. It may shift its gear today. If it does, then the market may make a good move this week. However, major pairs seem to be choppy a little after making some big moves on the charts such as the daily and weekly. This suggests that the market may not be a good week as far as price action trading is concerned.

We wish you good luck and good profit for this trade idea. For more trade ideas, join the Price Action Society

http://www.priceactionsociety.com

If you like our analysis and would like to receive 3 to 7 trade ideas per day, then
Click here to learn more about the Price Action Society.


Claim Your $60 No Deposit Bonus Here

All you need is to have your live account verified!
Of course, you need to open a live account...

2 Brokers that we like A LOT!
USD30 from each Forex Broker Below.
Both Forex Brokers have excellent rating!

Broker #1

Broker #2

We use both of these brokers and proudly promote them!

NOTE: Not all countries qualify for these bonuses. Terms and Condition Applies.

Other Analysis Today
Learn and SHARE the Knowledge!
Click Here to Leave a Comment Below 0 comments
Do NOT follow this link or you will be banned from the site!

The Powerful AllPips Trend Indicator | 100% Free Download 

x