Forex Chart – Feb 10, 2016: USDCHF, EURGBP, EURCAD


At the moment, price on USDCHF still in the downtrend. Price broke lower and closed below the daily support level as the chart shows below. This daily level holds as both the support and resistance level in the past. Now, after price broke lower this daily level hold as the new daily resistance level.

The momentum on USDCHF still shows some bearishness and any retracement or pull back into the new resistance level could provide any opportunities to hunt for the short trade. This opportunity could emerge on the intraday like 4-hour or 1-hour chart.

USDCHF daily chart


USDCHF 4-hour chart



The EURGBP still in the uptrend with price closed higher since early December 2015. Recently, price on EURGBP broke through the daily resistance level and closed higher. This daily resistance level now acts as the new daily support level. With the trend on this pair still shows some strengthening, any pullback to the new daily support level could provide any opportunities to go long.

EURGBP daily chart


EURGBP 4-hour chart



Similar with USDCHF and EURGBP, price on EURCAD has also broken through the major daily level. For now, this level became the closest daily support level. Any retracement to this level could provide the opportunity to go long if price could form any bullish signal not only in daily but also intraday time frame.

EURCAD daily chart


EURCAD 4-hour chart



One comment

  1. for USDCHF ilook still in UPtrend. But i want to look for a better result.


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