General analysis
- USD/CHF in uptrend with strong channel support; The pair remains strong on the daily chart.
- USD/JPY disruption of the range; Breaking the stop zone will decide the direction.
USD/CHF Chart Analysis
15 minutes of time
On November 11, 2024, the pair maintained its strong upward rally with returns of +0.55%. The price continues to rise in a channel-like structure with a pattern creation of higher highs and higher lows.
Looking at the daily time frame, the price showed a breakout of a cup and handle pattern. The expected target is 0.90600, almost +3.80% from the breakout point. Currently, on the daily chart, the price needs to stop or create an area to continue its rally after the breakout.
The price can be seen moving up in a channel pattern on the 15-minute time frame, with higher highs and higher lows being created. The strength is visible in the 15 minute time frame.
There are some trigger points mentioned below:
- If the price takes support from the ascending trend line and reverses, then buyers can consider entering the trade with a stop loss below the previous low and target up to the resistance trend line or 0.88405 level.
- If the price breaks the ascending support trend line, then sellers can consider entering after the price closes below 0.87908 with a stop loss above the previous high and target up to the 0.87660 level.
USD/JPY chart analysis
15 minutes of time
On the trading session of November 11, 2024, the pair created a range area where the price showed sideways momentum respecting the support and resistance. The price broke the channel upwards on November 12, then creating a retest zone above it. The price could rise if it breaks the zone.
Currently, on a daily time frame, the price can be seen breaking out of a flag and flag pattern and retesting the exact support. Positional buyers may consider entering the trade with a stop loss below 152.142 and a target up to 157.493.
If we look at the price on a 15-minute time frame, the price came out of its distribution phase and is currently stopping above the 153.968 level.
If you are looking for an input trigger, here are a few:
- If the price breaks and sustains above the level of 154.157, buyers can consider entering the trade with a stop loss below 153.968 and target up to 154.357 and 154.666 dynamically.
- If the price breaks the stop zone, then sellers can consider entering the trade with a stop loss above the previous high and target the 153.482 level.
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