Chart Art: Potential Resistance Levels for USD/CHF and EUR/GBP

Chart Art: Potential Resistance Levels for USD/CHF and EUR/GBP

Partner Center Find a Broker

forex guide

Whether you like trading the majors or if you’re more into currency crosses, I’ve got you covered with a Fib play on USD/CHF and a range resistance setup on EUR/GBP. Get ’em while they’re hot!

USD/CHF: 4-hour

USD/CHF 4-hour Forex Chart
USD/CHF 4-hour Forex Chart

USD/CHF is having trouble making new highs around the .9650 area, which isn’t surprising since the level lines up with a broken support, 61.8% Fib retracement, AND the 200 SMA on the 4-hour time frame.

Is USD/CHF ready for a downswing? I’m not seeing any bearish momentum just yet, so y’all might want to sit tight and see how the pair reacts to its current levels before you pull the trigger on your orders.

A short order at the first signs of bearish pressure would give you a good reward-to-risk ratio especially if you place your stops just above .9700 and aim for the pair’s March lows.

Think dollar bulls are just getting a breather? You can start loading up your longs as soon as USD/CHF clears the 200 SMA and maybe aim for .9900 or until you see some selling pressure.

Whichever bias you choose to trade, make sure you’re practicing your risk management skills like a champ!

EUR/GBP: Weekly

EUR/GBP Weekly Forex Chart
EUR/GBP Weekly Forex Chart

Can you believe that EUR/GBP has rocketed by around 750 pips in the last FOUR weeks?!

The pair now looks set to hit the .9250 zone, which has been an area of resistance for the pair since October 2016. Talk about commitment!

Will the bears defend the level for another day? Shorting at the first signs of selling around the area would give you the best reward-to-risk ratio especially if EUR/GBP drops back down to its .8400 range support.

  The IndeX Files 25-02-2020

If you think that nothing’s gonna stop EUR/GBP, however, then you can also place small long positions at market and build up your upswing play until the pair reverses or sees significant retracement.

Forex Chart Settings:

Slow Stochastic: 14,3,3
100 SMA: Blue line
200 SMA: Red line

CLICK THE FOLLOWING LINK AND READ AGAIN.

Drop your queries here! ↴ we will answer you shortly.