USD/CHF Look Ahead for week starting 11/24/19

The US Dollar / Swiss Franc is in a Bear Market Rally within a long-term Bear Market with price trading above the 50 week ema which is below the 200 week ema which is trading below the 800 ema. The 50 week ema is currently flattish, implying a period of consolidation creating a trading range. This is a currency pair that can be traded from both the short and long side. If you try to use the ema’s to decide when to be Long or Short, your trading account will get eviscerated. Long term the 0.83001 low will be taken out before a strong Bear Market Rally. Eventually 0.70668 will also be taken out. This is a tough pair to trade long-term because it comes down to a 50-50 bet.

The Pair is in a Correction on the daily, with price above the 50 ema, which is below the 200 ema and both above the 800 ema. This is in a trading range for now with with all the emas flat and wrapped tight together. Everything about the price action is Corrective, not Impulsive. Look for price to ping-pong between the 200 and 800 emas, and trade above and below the 50 ema. With price switching directions every week or so, this is a good currency pair to trade off the Peak and Bottom Formations.

The Pair is in a trading range for now with all the emas flat and wrapped tight together. The pair is coming into a level 3 consolidation and the emas are showing bullishness to suck in Retail Traders. Next week will likely be a down-trend after a weekend/Monday consolidation. Look for a Peak Formation to form against the trend line, maybe along with a stop hunt in the Liquidity Range above. This should be followed by a sell-off into next week.

This is my USD/CHF look ahead for my own trading purposes. FOREX trading involves risk. Feel free to comment, but trade off of this post at your own peril.