Swissie: watch the 0.975 level and ‘Handle’ TL by Mary McNamara

I noted earlier today how a new TC signal had triggered off the Swissie during Tuesday night whilst I was sleeping. I mentioned that I would only consider chasing this signal if the Swissie could manage to close above recent highs but price action is getting up close to that region as I type.

 Swissie 4hr: price action is still within the ‘Handle’ from the Cup ‘n’ Handle but 0.975 also stands out as a recent S/R level to navigate. A close and hold above this level would be bullish:

Swissie4hr

Swissie daily: 0.975 is below the ‘Handle’ trend line and so some traders will prefer to wait for any bullish breakout above that higher level:

Swissiedaily

Swissie weekly: the broad based Cup ‘n’ Handle is evident here:

Swissieweekly

Swissie monthly: the more interesting feature, for some, will be the clear ‘inflection’ or ‘polarity’ shift visible here. The break of trend line marked that shift:

SwissieMonthly

The Swissie is trading above the Ichimoku Cloud on the 4hr, daily and weekly charts but is still trying to print a monthly close above the Cloud. Maybe it will have more luck in December as it is sniffing the air up there at the moment!

SwiiseMonthlyCloud

Summary:

  • There is an open TC signal already on this pair.
  • Other bullish entry levels could include a break and hold above either 0.975 or the ‘Handle’ trend line.

The post Swissie: watch the 0.975 level and ‘Handle’ TL. appeared first on www.forextell.com.

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