USDCHF we expect increases

Due to the strengthening US dollar, we are waiting for another attempt to attack the resistance level. As I wrote earlier, the support and resistance become "weaker" with each subsequent attempt to break through. The third, fourth and each subsequent attempt to break the resistance indicate a strong pressure for a given level and may indicate further movement in that direction.

We can see on the chart that the strengthening dollar may break through the resistance. At the same time, you can see the formation of an inverted head and shoulders, oRGR. A trend pattern may herald a reversal, which in the case of this currency would give a positive impulse to growth for several reasons. The first one is definitely the change of power in the US. The second is the announcement of large-scale vaccination in the US to slow the spread of the COVID-19 virus. The formation condition is known? If not, feel free to ask questions, we are here to help.

Crude oil descending triangle

Crude Oil did not behave as expected. I assumed a strong reaction to the data that turned out to be weak. The increase in inventories did not move the price so much that we could speak of a reversal or rebound in the price. When you see the chart, you can see that investors are being held.

Currently, a descending triangle is forming so I can guess that this is a price range where large funds and major players collect orders at an average price. Not everyone knows, but you cannot simply buy or sell something in the market. Having large funds that move the price of a stock on the stock exchange, purchases and sales must be carried out with a strictly defined plan so that the price is always favorable. In this case, I think that the formation of a triangle that is forming indicates just that. So we are waiting for the breakout and then we will be able to think about further actions.

DAX on support, further down

The German index is implementing the plan. Yesterday, a local RGR formation was created which behaved in a book-like manner. Unfortunately, I have not written it anymore because, as I mentioned in the „our policy” tab, he trades himself and I am not always able to reconcile it. Chart focus is essential.

We are currently in DAX on support that we will probably beat. The range of price movement determined yesterday does not change. I just added a zone where the price can stop. I repeat .. I don’t get the dimple! I’m waiting for confirmation. In my case, I wait for a bounce and go into correction.