{"id":63801,"date":"2014-11-17T05:26:41","date_gmt":"2014-11-17T10:26:41","guid":{"rendered":"http:\/\/countingpips.com\/?p=63801"},"modified":"2014-11-17T07:40:38","modified_gmt":"2014-11-17T12:40:38","slug":"usdchf-forex-technical-analysis-november-17-2014","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/11\/usdchf-forex-technical-analysis-november-17-2014\/","title":{"rendered":"USDCHF: Forex Technical Analysis November 17, 2014"},"content":{"rendered":"
November 17, 2014<\/div>
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By IFCMarkets<\/a><\/p>\n

Today we expect Mario Draghi to speak before the Committee on Economic and Monetary Affairs at 15:00 (CET) in Brussels. Investors are willing to listen for the ECB President\u2019s comments regarding the low inflation rate and the EU economic slowdown. The main danger for the EU economy is still the possibility of deflation with a consequent revenue reduction and profitability. Mario Draghi\u2019s speech may affect the volatility of the most liquid currency pairs which are exposed to the EU monetary policy.<\/p>\n

\"technical-analysis-chart-usd-chf\"<\/p>\n

Here we consider the USD\/CHF<\/a> currency pair on the H4 chart. The price is still moving in the daily uptrend, but there is a number of alarming signals of the trend fading out. First of all, they include the lower triangle side breakout, which coincides with the bearish candlestick pattern \u201cabsorption\u201d (marked in yellow on the chart). Secondly, the price is drifting in the lower part of the price channel. Finally, RSI-Bars<\/a> oscillator signal indicates the bearish divergence and broke the lower boundary of the sideways channel at 34.9337%. The bullish backtrack is possible only after a significant market restructure. Note the necessary condition for this: the upper triangle side breakout at 0.96876. It will result in the Parabolic trend indicator reversal in the direction of the green zone, and the intersection with the upper Donchian Channel boundary. Conservative traders are also recommended to wait for the breakout of the oscillator resistance level at 57.8749%, which would erase the bearish divergence. The price level at 0.96876 can be used for opening a pending buy order with Stop Loss placed below the last fractal low at 0.94410. The proposed Stop Loss level is confirmed with the D1 trend line intersection, Parabolic historical values and also the lower Donchian Channel boundary.<\/p>\n

After position opening, Stop Loss is to be moved after the Parabolic values, near the next fractal low. Updating is enough to be done every day after a new Bill Williams fractal<\/a> formation (5 candlesticks). Thus, we are changing the probable profit\/loss ratio to the breakeven point.<\/p>\n\n\n\n\n\n
Position<\/b><\/td>\nBuy<\/td>\n<\/tr>\n
Buy stop<\/b><\/td>\nabove 0.96876<\/td>\n<\/tr>\n
Stop loss<\/b><\/td>\nbelow 0.94410<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Dear traders. For the detailed report of the strategy based on the analytical issues of technical analysis click here<\/a>.<\/p>\n

Market Analysis provided by IFCMarkets<\/a><\/p>

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By IFCMarkets Today we expect Mario Draghi to speak before the Committee on Economic and Monetary Affairs at 15:00 (CET) in Brussels. Investors are willing to listen for the ECB President\u2019s comments regarding the low inflation rate and the EU economic slowdown. The main danger for the EU economy is still the possibility of deflation […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-63801","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/63801","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=63801"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/63801\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=63801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=63801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=63801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}