Hello Traders,
There is a strong technical reason to buy the USD. In the weekly chart, you notice that price is reversing from last year’s low with a strong double bar reversal pattern and a buy signal. Fine tuning our entry in the 4HR chart means that price might stagnate or even trend lower for sometimes before a resumption of trend next week. I recommend entry when there is a stochastics buy signal in the 4HR chart around 0.949-0.955. Stop loss will be this week’s low at 0.9420 for a 1:2 risk reward ratio. Ultimately, let us target the top of that consolidation at 0.992.
Trade as follows:
Buy Limit: 0.949-0.955
Stop Loss: 0.9420
Take Profit: 1:2 or 0.992
Have a good trading day.

usdchf daily chart-28.07.2017

Source: Dalmas Ngetich

usdchf weekly chart-28.07.2017

Source: Dalmas Ngetich

usdchf 4HR chart-28.07.2017

Source: Dalmas Ngetich

2 thoughts on “USDCHF DAILY ANALYSIS FOR 28.07.2017”

  1. Maryna says:

    Hey Dalmas, not sure why you only want to buy now as CHF has been weak all week already? I’ve been buying EURCHF all week due to CHF weakness.

    1. Dalmas Ngetich - FOREX.TODAY says:

      As a matter of fact you can continue selling the CHF as the weakness started this week. Perfect opportunity to scalp the market for some 50-60 pips.

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