USDCHF - Trade Analysis, 01/03

0.94233 is proving to be a hard zone for the pair to breach. The first attempt failed and now the pair is going for a second try. I think it will take a few more kisses before this level can be breached. Placing pending LONG orders couple of pips above this level or waiting for a new candle to open comfortably above this level (a conservative approach) could enable those to get back into this trade.

The target price we're looking at 0.94694 through 0.94861.

GBPCHF - H4 Chart, 28th Feb

Another potentially good trade is shaping up on the GBPCHF 4 hour chart. Below is the chart with Wolfe Wave, Schaff Trend and also Fibs. I use Fibs mostly to get a perspective of price especially when Wolfe Waves project prices into the future.

What gives me confirmation is from the daily chart, which is showing a potential end of a downtrend for this pair. Refer to the chart below to see what I mean.

Long @ 1.41842
TP: 1.43620 (61.8% Fib)
SL: 1.40926

Risk: 916 Pips
Reward: 1778 Pips

Reason for getting into this trade again is the positive swaps. Call me crazy but I don't like giving away money for free to the markets.. or my broker for that matter!

EURUSD Long Term Outlook

I came across an interesting pattern on the EURUSD long term trade set up using the Daily chart. If by means of any luck, my trade analysis is right, then are we expected to see the Euro fall to 1.28 levels around March 2013?

I'm not so sure. A part of me feels excited on having to notice this set ups almost a month ahead, but there is a bit of doubts as well. While opinion on this might seem divided, I for one will be eagerly following the Euro Dollar.

So... join me in this fun speculation. Do you really think the EURUSD will drop to 1.28 towards the last week of March 2013?

Here's the chart.