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Weekly Analysis ( Nov 23- Nov 28)
USDCHF (+21 Pips) Bought (0.9634) Sold (0.9655)
EURUSD (+36) Sold (1.2476) Bought Out (1.2440)
USDCHF (Undecided)
USDCHF’s was placed as a daily trade after the “holiday consolidation” following a perfect bullish setup. The entry trade was actually placed a couple hours before the opening of the U.S market right after major economic data from Switzerland (KOF Leading Indicator from November). Even though figures came out lower than expectations, the USDCHF retraced several hours after triggering my entry trade near recent support levels (.9630). The USDCHF ha not strengthened enough to past (.9738) resistance levels this MONTH which lead me to conclude that this trade had to be closed short term at the nearest (most recent) resistance level (.9650).
Further Expectations:
No Further Expectations are assessed. Our only objective is to let the market tells the story whether is this trade will continue bullish or bearish despite its long term view….
USDCHF (+21 Pips) Bought (0.9634) Sold (0.9655)
EURUSD (+36) Sold (1.2476) Bought Out (1.2440)
USDCHF (Undecided)
USDCHF’s was placed as a daily trade after the “holiday consolidation” following a perfect bullish setup. The entry trade was actually placed a couple hours before the opening of the U.S market right after major economic data from Switzerland (KOF Leading Indicator from November). Even though figures came out lower than expectations, the USDCHF retraced several hours after triggering my entry trade near recent support levels (.9630). The USDCHF ha not strengthened enough to past (.9738) resistance levels this MONTH which lead me to conclude that this trade had to be closed short term at the nearest (most recent) resistance level (.9650).
Further Expectations:
No Further Expectations are assessed. Our only objective is to let the market tells the story whether is this trade will continue bullish or bearish despite its long term view….
EURUSD (Bearish)
Our EURUSD trade was triggered after economic data from the Euro Zone (Consumer Price Index and Unemployment Data). Even though figures came out as expected, the EURUSD managed to retrace and then continue upon its bearish trend. Even though this currency pair is projected to decline more this year, our daily trade was clocked at the nearest support area (1.2476) to protect profit and minimize loss.
Further Expectations:
We expect further bearish movements with slight retracements upwards for the rest of this year.
Our EURUSD trade was triggered after economic data from the Euro Zone (Consumer Price Index and Unemployment Data). Even though figures came out as expected, the EURUSD managed to retrace and then continue upon its bearish trend. Even though this currency pair is projected to decline more this year, our daily trade was clocked at the nearest support area (1.2476) to protect profit and minimize loss.
Further Expectations:
We expect further bearish movements with slight retracements upwards for the rest of this year.
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