Tag: usdchf

Market Update: Final Remark on NY Closing Session

May 25, 2017 | Author: Miguel Afonso | One comment | Categories: Market Analysis | Tags: eurgbp • eurjpy • usdchf • vsatrading

In yesterday’s post, we analyzed 3 pairs that could be headed to take a hit: USD/CHF, EUR/GBP, EUR/JPY. However, both EUR/GBP and EUR/JPY dried up on volumes, and they didn’t reach the target levels. The confirmation as a break of a low volume bar / SR level is especially important when the background is neutral/adverse.

In USD/CHF, we were looking for a possible LONG position reaching the trendline/support at 0.969.

In the chart we can see that there were low volumes near the support, giving a confirmation for a LONG trade during the London session. And why? This is because there is plenty of buying at this level, so any low volume bar is showing lack of supply in a critical zone.

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