Free Forex Trade Signals USDCHF – 7th Nov 2019
USDCHF has been bullish on the daily chart. Yesterday’s daily candle came out as a Doji candle. However, two candles before that Doji candle were very bullish and the price has still some room to go towards the North. The H4 chart shows that the price is caught within a horizontal range. An upside breakout may attract the buyers to go long on the pair. Let us have a look at the H4 USDCHF chart.
This trade idea was generated by our powerful Elite Swing Trader System.
The chart shows that on the level of support after heavy consolidation, the price has headed towards the North. It has a rejection at the level of 0.99385 and several bounces at the level of 0.99185. As of writing, the last H4 candle seems to be a bullish candle as well. If the candle closes as a bullish reversal candle, then an H1 breakout at the level of 0.99385 may drive the price towards the level of 0.99685 with good bullish momentum. Let us have a look at the summary of the trade…
- Buy Stop Order: 0.99367
- Stop Loss: Below 0.99152
- Take Profit: 0.99666
The Tokyo and the Sydney sessions have been very active today. Many pairs, especially the AUD and the JPY pairs seem to have made out on the intraday charts and headed towards the trend. Since intraday charts are active, bigger charts may make some significant moves as well. As we have anticipated, November would be a good month for trading. Today may be the beginning of that.
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