USDCHF Confluence Analysis

2021년 5월 2일

This pair hit the 0.9460 price level at the beginning of April this year (last month). The last time price got to this level was in July 2020 (10 Months ago). This area is a Daily resistance area. USD/CHF has been in an Uptrend since the beginning of this year.

The 61.8% Fibonacci Support of this uptrend is at the 0.9030 - 0.9040 area, which is the First Buy Area in the Chart. There is a good confluence in this area, but orders have been taken from this area last week. So keep that in mind.

We also have a Fresh Untested Demand Zone at the 0.8900 - 0.8940 area which is our Second Buy Area in the Chart (the Blue Rectangle at the bottom of the Chart).

The SDE at 0.9247 (also called a Flippy by Supply and Demand Traders) is the support that has been turned to resistance. We expect that this level will be used to create a Fakeout Pattern of Equals highs to create liquidity and then price should go higher to the Supply Zones.

The Supply Zones are the two Sell Areas that I have labelled in the Chart, The FTR and the QM head (the origin of the Imbalance which is also the Daily Supply Zone).

Patience is a virtue. Good luck.