GBP/CHF 1/21/2021 17:30
Fundamental/Sentimental
Cot: Price action follows hedge funds with some delay and is only affected by the funds on the side of the Swissy. Some delays, inconsistent.
Currently, both currencies have longs being added to them, price action has yet to fully reflect those positions. Good indicator of buyers market to be reflected on price action.
News and Events: No significant events that may affect price action are to come in the next few days ahead.
Technical
Time Frame Analysis: Monthly, we’re at the lowest point. Possible channel to be formed. Weekly: Sellers remain to have control of the market, while buyers struggle, major consolidation. Daily: Very strong resistance, currently being tested, buyers are struggling and likely there is not enough of them to push through such a strong 61.8% fib level. 4H: Definitely shows sellers still have power, but buyers are catching up a bit, but RSI shows that at the current retest of the 61.8%, we probably won’t have enough to break through. 1H: Shows buyers are starting to lose momentum after that retest.
Indicators: RSI supports entry position and also supports most timeframes.
Entry: Market Sell
Position: 0.05, 5,000 USD
RR: 3:11
Fundamental/Sentimental
Cot: Price action follows hedge funds with some delay and is only affected by the funds on the side of the Swissy. Some delays, inconsistent.
Currently, both currencies have longs being added to them, price action has yet to fully reflect those positions. Good indicator of buyers market to be reflected on price action.
News and Events: No significant events that may affect price action are to come in the next few days ahead.
Technical
Time Frame Analysis: Monthly, we’re at the lowest point. Possible channel to be formed. Weekly: Sellers remain to have control of the market, while buyers struggle, major consolidation. Daily: Very strong resistance, currently being tested, buyers are struggling and likely there is not enough of them to push through such a strong 61.8% fib level. 4H: Definitely shows sellers still have power, but buyers are catching up a bit, but RSI shows that at the current retest of the 61.8%, we probably won’t have enough to break through. 1H: Shows buyers are starting to lose momentum after that retest.
Indicators: RSI supports entry position and also supports most timeframes.
Entry: Market Sell
Position: 0.05, 5,000 USD
RR: 3:11