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We’re lookin’ at the franc today, my dudes! See if you can make pips from USD/CHF and EUR/CHF‘s downtrends!

EUR/CHF: 1-hour

EUR/CHF 1-hour Forex Chart
EUR/CHF 1-hour Forex Chart

EUR/CHF is chillin’ like a villain at 1.0825, which is just below the 100 SMA on the 1-hour time frame.

What makes the setup more interesting is that EUR/CHF’s current levels are also near a descending trend line resistance that hasn’t been broken since mid-December.

Are we looking at an extension of a downtrend? A short trade at current levels would give you the best reward-to-risk ratio if the euro drops against the franc after this consolidation.

If you feel like buying EUR/CHF this week, however, then you might want to at least wait for the pair to consistently trade above the 200 SMA before you make any reversal play.

Not sure which direction you want to trade? No worries, not trading is also a trade decision! Gotta keep them risks managed, amirite?

USD/CHF: 4-hour

USD/CHF 4-hour Forex Chart
USD/CHF 4-hour Forex Chart

Here’s one for them dollar traders out there! USD/CHF is heading fast towards the .9750 levels, which is right smack at a 61.8% Fibonacci retracement, 100 SMA, and descending trend line resistance on the 4-hour chart.

The pair hasn’t shown bearish momentum yet, so y’all still have time to design trading plans around a possible retracement play.

Shorting at the first signs of bearish pressure would get you in at a good price especially if USD/CHF drops below December’s lows and you place your stops just above the trend line.

Think the dollar will extend its upswing against the franc instead? You can also wait for USD/CHF to trade above the trend line and 100 SMA and make long trades in case the dollar pops back to its .9800 or .9900 previous areas of interest.

Forex Chart Settings:

Slow Stochastic: 14,3,3
100 SMA: Blue line
200 SMA: Red line