Smart Trade Insights
  • Business
  • Economy
  • Investing
  • Politics
Top Posts
Tech 5: US Government Strikes Big Tech Deal,...
Crypto Market Update: Bitcoin Pulls Back After New...
Playboy moving its headquarters to Miami Beach and...
Crypto Market Update: Bitcoin’s New High, Ethereum ETFs...
Top 5 Small-cap Pharma Stocks of 2025
Brien Lundin: Gold at New US$3,000 Floor, Silver...
Brunswick Exploration Consolidates Mirage Ownership
Westport Files Preliminary Short Form Base Shelf Prospectus...
Element79 Gold Corp Announces Corporate Update and Strategic...
OPINION — Goldenomics 103: Gold Protects and Performs
  • Business
  • Economy
  • Investing
  • Politics

Smart Trade Insights

Economy

USD/CHF & USD/JPY Analysis: Key Levels and Opportunities

by admin November 4, 2024
November 4, 2024
USD/CHF & USD/JPY Analysis: Key Levels and Opportunities

Overall Analysis

  1. USD/CHF continued its rally towards the downside, but the price quickly reversed from the support area towards the resistance. 
  2. In USD/JPY, sellers keep pressuring the market, but buyers continue breaking their swings and trying to push the market high.

USD/CHF Chart Analysis

USD/CHF 15-Minute Chart (Source: TradingView)

On the 31st Oct 2024 the pair was continuously in the selling zone, creating a choppy market condition. Price followed the channel pattern and retested the support zone, creating a channel pattern. 

Price sharply reversed from the support area, indicating the strength of the zone. On the 1st Nov trading session, we can see the price again shoot up to test the resistance areas and face rejection from the same. The price has tested the resistance area three times, indicating weakness in the trendline.

There are chances of multiple entries which a trader can plan, and both buying and selling positions can trigger. 

Recently, the price shot up, indicating strong buyer interest. However, within just a 15-minute candle, the price surged upward, prompting instant profit-taking. This action may lead to a price correction, providing more opportunities for new buyers to enter.

If planning to enter, then we can use the Fib retracement tool to spot entry.

  1. If the price comes and retests 0.6 and 0.5 levels and takes support from that level, then entry can be planned on the basis of the targets of 0.86900, and if resistance breaks, then one must use the trailing stop loss method, fix stop loss will be below 0.5 level. 
  2. If the price breaks the 0.5 level and closes below it, then entry can be planned based on candle closing with the stop loss above 0.6 and targets of 0.86398 or till the support trendline. 
  3. If the price hovers around the resistance trendline and creates a rectangle channel with 4-6 candles, then one can plan to buy a side entry if the price breaks the channel and closes above it with a stop below the previous swing low and target of 0.87291 on trailing stop loss basis.

EUR/GBP Chart Analysis 

EUR/GBP 15-Minute Chart (Source: TradingView)

In the trading session on October 31, 2024, the pair faces a massive price correction. On a higher time frame market broke the 0.5 Fib retracement level of the previous swing, indicating a trend reversal in the market. 

After correcting the price on October 31st, we observe a sharp correction accompanied by the formation of a cup and handle pattern. If the price comes near the 152.969 level, then a cup and handle pattern will activate. 

Price is continuously crossing the previous swing’s 0.5 level, which indicates buyers are not ready to let go of the market in selling. 

If planning for an entry, then one must enter after the price reaches the 152.969 level and create a zone near the area. One can enter if the price breaks the zone and closes the candle, with the stop loss below the previous swing low and targets of155.536 and 153.841.

The post USD/CHF & USD/JPY Analysis: Key Levels and Opportunities appeared first on FinanceBrokerage.

previous post
Bitcoin & Ethereum: Sharp Fall on Oct 31, Potential Selling
next post
EUR/USD & EUR/GBP Analysis: High Volatility with Trends

You may also like

Tesla Stock Prediction 2025: Growth, Prospects, and Risks

August 13, 2024

The dollar index could continue to recover this...

September 3, 2024

BP Stock Sees 0.34%, Rise Amid Low Trading...

October 16, 2024

Could Bitcoin Reach $200000? Market & Expert Insights

March 7, 2025

Bitcoin drops to a new weekly low on...

October 23, 2024

Ripple and Tron: New support levels on Thursday

October 11, 2024

Quantum Computing: its Evolution and its Potential Future

August 1, 2024

S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped...

December 10, 2024

The Euro index is losing momentum and retreating...

August 9, 2024

Stock Futures Lower after S&P 500 futures ticked...

December 15, 2024

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Tech 5: US Government Strikes Big Tech Deal, Perplexity Plots Expansion

      August 17, 2025
    • Crypto Market Update: Bitcoin Pulls Back After New High, Ethereum ETF Inflows Hit Nearly US$3 Billion

      August 17, 2025
    • Playboy moving its headquarters to Miami Beach and opening a new club

      August 17, 2025
    • Crypto Market Update: Bitcoin’s New High, Ethereum ETFs Outpace Bitcoin 5-to-1

      August 16, 2025
    • Top 5 Small-cap Pharma Stocks of 2025

      August 16, 2025
    Promotion Image

    banner ads

    Categories

    • Business (818)
    • Economy (829)
    • Investing (2,635)
    • Politics (737)
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: smarttradeinsights.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 smarttradeinsights.com | All Rights Reserved