To Get Ross' Free Forex Update Analysis - Click Here: http://mytotalsupport.com/cpv/base.php?c=86&key=fd5d14f7ec45b14d31a944108238114b&ls=youtube&keyword=swiss_franc&ad=JSocPNr1y2U Let’s go ahead and zip on over to the USDCHF. We do have some news today. We have the ADP non-farm coming up in about 30 minutes from the recording of this video. Could be very interesting for all of the US currency pairs depending on if it’s a large deviation from the expected forecast number. The expected forecast number for that ADP non-farm is 184 thousand. So, if it comes out much larger than that, if it comes out 200 or higher, then we would look for a good, solid push for the USD. If it comes out lower than that, 150, 140, 130, then we might have a push against the USD. So, we want to continue to watch that news coming up in about 30 minutes again from the recording of this video. Taking a look at the daily timeframe, two different trends. The black trend line. The red trend line. We’re currently in the uptrend along the red trend line. Even shorter if you look at this little blue trend line right here. So, all of that together tells me that if I’m going to focus on a direction right now, I’m focused on the red and the blue trend line and the rising trend that we see here. I’ve taken Fibonacci from the high of the black trend line, where the black X is, down to the lowest low. Puts the .618 Fibonacci retracement level of that previous downtrend at 1.0155, top of our orange-shaded area. Now that we see that, let’s go ahead and zoom it in again. So, if we’re buying in the direction of the trend, which is an uptrend, we want to buy on dips to support, which at least at this point is the green zone. If not, further, the yellow zone down towards the 100-period moving average by the way. Green zone or yellow zone. Dips to support. Positive news for the US, we buy it and then we look for the breakout above the orange zone. So, if we’re trading this today, one of two things needs to happen to trade the trend. Dips to support, the green zone, or breaks through resistance, the orange zone. In between there, we just don’t really have a trade setup yet here for the USDCHF. Take it down to the four-hour timeframe. It’s not going to change any of that analysis. It just gives us a zoomed in view of this. Again, there’s the blue trend line. A dip to the green zone, blue trend line might give us an opportunity. That is 1.0115 to 1.0100 at the green-shaded area, or like I said, a breakout above the orange-shaded area may give us our next opportunity to go long in the direction of the trend, assuming of course, like I said, we get good, positive data for the US at ADP non-farm at 8:15AM Eastern US time today. https://www.youtube.com/watch?v=JSocPNr1y2U Disclaimer: This video is for general information only and is not intended to provide trading or investment advice or personal recommendations. Any information relating to past performance of an investment does not necessarily guarantee future performance. Forex Traders Daily including its analysts shall not be responsible for any loss that you incur, either directly or indirectly, arising from any investment based on any information in this video. Please remember derivatives and FX spot carries significant risks and may not be suitable for all investors. Losses can exceed your deposits.
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