USD/CHF: Technical outlook and review.
4hr TF.
The higher-timeframe picture resembles the following:
Weekly TF: Price may have already retested the weekly decision-point level at 0.90927, as last week a rather pleasant-looking bullish pin bar formed a few pips above. Does this mean we should expect higher prices this week?
Daily TF: In our humble opinion, price appears to be clear north on this timeframe. Sellers originally situated around the daily supply area at 0.91556-0.90985 have very likely been consumed, the next set of serious sell orders are seen around daily supply at 0.94546-0.93448 (conveniently located within a weekly supply area at 0.94546-0.93081).
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The 4hr timeframe shows that price has successfully closed above the round number 0.92, and at the time of writing a retest is currently being attempted. With both the higher timeframes showing very little supply (trouble areas) on the horizon (see above), our bias on this pair remains long, at least up until fresh 4hr supply at 0.92778-0.92469 (Take a look in history, it’s a beautiful area)!
If the retest of the round number fails, and price declines, the next area of interest where we believe active buy orders to be residing is at 0.91761-0.91872 (a pending buy order set just above at 0.91893), due to this being the likely area where pro money made the decision to push prices above the round number level in the first place..
Pending/P.A confirmation levels:
• Pending buy orders (Green line) are seen just above a 4hr decision-point area (0.91376-0.91478) at 0.91494. The reason being is this area was likely where the decision was made to push above 4hr supply at 0.91892-0.91668, hence there very well may be unfilled buy order sitting there.
• New pending buy orders (Green line) are seen just above a 4hr demand area (0.91761-0.91872) at 0.91893. This area is prime for a first-time reaction, as it likely holds unfilled buy orders that pro money left behind, which they will no doubt come back to collect sometime soon.
• No P.A confirmation buy levels (Red line) are seen in the current market environment.
• No P.A confirmation sell levels (Red line) are seen in the current market environment.
• No pending sell orders (Green line) are seen in the current market environment.
• Areas to watch for buy orders: P.O: 0.91494 (SL: 0.91352 TP: Dependent on how price approaches) 0.91893 (SL: 0.91743 TP: Dependent on how price approaches) P.A.C: No P.A confirmation buy levels are seen in the current market environment.
• Areas to watch for sell orders: P.O: No pending sell orders are seen in the current market environment. P.A.C: No P.A confirmation sell levels are seen in the current market environment.
The higher-timeframe picture resembles the following:
Weekly TF: Price may have already retested the weekly decision-point level at 0.90927, as last week a rather pleasant-looking bullish pin bar formed a few pips above. Does this mean we should expect higher prices this week?
Daily TF: In our humble opinion, price appears to be clear north on this timeframe. Sellers originally situated around the daily supply area at 0.91556-0.90985 have very likely been consumed, the next set of serious sell orders are seen around daily supply at 0.94546-0.93448 (conveniently located within a weekly supply area at 0.94546-0.93081).
________________________________________
The 4hr timeframe shows that price has successfully closed above the round number 0.92, and at the time of writing a retest is currently being attempted. With both the higher timeframes showing very little supply (trouble areas) on the horizon (see above), our bias on this pair remains long, at least up until fresh 4hr supply at 0.92778-0.92469 (Take a look in history, it’s a beautiful area)!
If the retest of the round number fails, and price declines, the next area of interest where we believe active buy orders to be residing is at 0.91761-0.91872 (a pending buy order set just above at 0.91893), due to this being the likely area where pro money made the decision to push prices above the round number level in the first place..
Pending/P.A confirmation levels:
• Pending buy orders (Green line) are seen just above a 4hr decision-point area (0.91376-0.91478) at 0.91494. The reason being is this area was likely where the decision was made to push above 4hr supply at 0.91892-0.91668, hence there very well may be unfilled buy order sitting there.
• New pending buy orders (Green line) are seen just above a 4hr demand area (0.91761-0.91872) at 0.91893. This area is prime for a first-time reaction, as it likely holds unfilled buy orders that pro money left behind, which they will no doubt come back to collect sometime soon.
• No P.A confirmation buy levels (Red line) are seen in the current market environment.
• No P.A confirmation sell levels (Red line) are seen in the current market environment.
• No pending sell orders (Green line) are seen in the current market environment.
• Areas to watch for buy orders: P.O: 0.91494 (SL: 0.91352 TP: Dependent on how price approaches) 0.91893 (SL: 0.91743 TP: Dependent on how price approaches) P.A.C: No P.A confirmation buy levels are seen in the current market environment.
• Areas to watch for sell orders: P.O: No pending sell orders are seen in the current market environment. P.A.C: No P.A confirmation sell levels are seen in the current market environment.
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