USD/CHF Trading Below Ichimoku inside Downward Channel
Technical Points
The USD/CHF pair has been trading within a downward channel. It has not been able to break above the daily Ichimoku cloud in its most recent attempts in March and April. The Tenkan line has crossed below the Kijun line. And there was a massive bearish engulfing candlestick formed on Monday. You can learn all about these geeky technical stuff here by the way.
Market Sentiment
Retail trader data shows 54.3% of traders are net-long the USD/CHF. The number of traders net-short is 17.1% lower than yesterday and 41.7% lower from last week.
We typically take a contrarian view to crowd sentiment. So, the fact traders are net-long suggests USD/CHF could continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CHF-bearish contrarian trading bias.
USD/CHF Investing Strategy
As 4th point of the IDDA, you must calculate your risk tolerance before deciding on which trading strategy is suitable for your portfolio. Join us for a free workshop to learn more.
Disclaimer: Forex is one of the HIGHEST risk investing instruments there is. For further help, please visit our investing group.
With regards to USDCHF investing strategy, as an Invest Diva you should be able to put the 3 and 4 together and develop a strategy suitable for your portfolio and risk tolerance at this time. For further help, and if you want to chat with me regarding your trades, join our investing group here. It's awesome!!
Read full IDDA analysis for USD/CHF here.
The USD/CHF pair has been trading within a downward channel. It has not been able to break above the daily Ichimoku cloud in its most recent attempts in March and April. The Tenkan line has crossed below the Kijun line. And there was a massive bearish engulfing candlestick formed on Monday. You can learn all about these geeky technical stuff here by the way.
Market Sentiment
Retail trader data shows 54.3% of traders are net-long the USD/CHF. The number of traders net-short is 17.1% lower than yesterday and 41.7% lower from last week.
We typically take a contrarian view to crowd sentiment. So, the fact traders are net-long suggests USD/CHF could continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CHF-bearish contrarian trading bias.
USD/CHF Investing Strategy
As 4th point of the IDDA, you must calculate your risk tolerance before deciding on which trading strategy is suitable for your portfolio. Join us for a free workshop to learn more.
Disclaimer: Forex is one of the HIGHEST risk investing instruments there is. For further help, please visit our investing group.
With regards to USDCHF investing strategy, as an Invest Diva you should be able to put the 3 and 4 together and develop a strategy suitable for your portfolio and risk tolerance at this time. For further help, and if you want to chat with me regarding your trades, join our investing group here. It's awesome!!
Read full IDDA analysis for USD/CHF here.