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As you can see the MA indicator in front of us got its color changed to red on the GBPCHF chart which resonance with the candles as it started showing red color which is a good sign for the traders that a new bearish trend is taking place.
On the BB MACD indicator we can see clearly that the green dots which is located above the zero level which can be considered a signal for the strength of the bullish trend up till this moment.
As a conclusion to my analysis I do think that the bearish direction is of more power and the sell trades to be taken would be the best idea while targeting the support located at 1.4985 but that of course if the price kept being strong to stay below the resistance level located at 1.5015 .
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The selling signal appearing right in front of us today on the GBPCHF 1 hour chart the red arrow which is the last signal shown by the EMA crossover indicator using 2 exponential moving average lines of non-similar shifts.
A sell signal is being performed when the red line becomes located below the blue one.
The QQE indicator will be giving me a filtering signal by showing us a sell cross when the lines go below the fifty levels.
sell is the order I'll be choosing to target the level 1.5035 which is a support or the other option when a buy cross is created by the 2 exponential moving average lines.
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According to the vestro indicator for the GBPCHF pair it indicates a bullish saturation on its last move then I will use it to predict a upward direction for now.
On the chart the price is located quite below the price of the grey level at 1.5039 which is the resistance level and according to this bearish trend that we can assumed we can enter a sell positions targeting the next support near the area 1.4997 and then you can use level 1.4955 as your next target .
But clearly opposite signals on the vestor or if the price breaks the 1.5065 level you should start thinking about a bullish trend.
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Based on the hourly chart of the blade oscillator the GBPCHF is having a strong bullish trend by locating at 0.0026 above the level of balance and the indicator is blue colored that means there is a strong bullish move will happen in a short time .
By using moving average 5 we will notice a UP slope so 1.5022 could be considered a good stop loss for if there were buy positions as it is considered the last bottom by using the indicators signals .
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When we take a look on the chart of the GBPCHF chart we can find that there is a up blue arrow below the price and that indicates that a bullish trend is going to happen also the buy cross between the snake and T2_Clean assure that for us.
We can use the 1.5055 resistance as a take profit to cut down the losses if the price goes for the reverse direction or if the price reaches it and still going resistance in this case the price will keep buying and if the price started to go to the other direction i think that the support of 1.4935 can be considered as a good stop loss.
For now buying is the best choice as long as there are not any opposite sell signal or appearing of a red down arrow http://bigimage.cz/photos/20141120141648194170649.gif
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By using the GBPCHF hour chart we can have bullish channel and a yelow color of the moving average that means the price is falling up for the current period.
the price will keep falling up till it reach the first daily pivot resistance at the price of 1.4991 as The market opened at a higher values than the daily pivot point at 1.5017 and that only we didn't have any opposite downward signals from the WPR indicator.
For the day we can keep buying till the next resistance at 1.5044 as it is a very strong resistance level.
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analysis for today 11 / 21 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPCHF on the date 11 / 20 / 2014
OPEN 1.5004
HIGH 1.5064
LOW 1.4965
CLOSED 1.5037
The third resistance (R3) 1.5064 -( 1.5022 - 1.4965 = 0.0057 x 2 = 0.0114 )= 1.5178
The second Resistance (R2) 1.5022 + 1.5064 - 1.4965 = 1.5121
First resistance (R1) 1.5022 x 2 = 3.0044 - 1.4965 = 1.5079
pivot points 1.5064 + 1.4965 + 1.5037 = 4.5066 / 3 = 1.5022
Support for the first (S1) 1.5022 x 2 = 3.0044 - 1.5064 = 1.4980
Support second (S2) 1.5022 -( 1.5064 - 1.4965 = 0.0099 ) = 1.4923
Third Support (S3) 1.4965 -( 1.5064 - 1.5022 = 0.0042 x 2 = 0.0084 )= 1.4881
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Daily Forecast
Pair: GBPCHF
Major Trend: NEUTRAL
Time Frame: H4
Reason: For the long-term movements can still be seen in TF D1 is bullish. To this day the price is likely to remain sideways in the area of 1.4983 to 1.5060. But it has formed a strong buy candle before. Pivot point at 1.5021 today. RSI is still below the 50 line and sideway.
Recommendation: BUY STOP at 1.5060
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As you can all realize there is a downward trend taking place on the GBPCHF pair indicated by the red dots appearing on the bars the price may keep going south so long it stays lower than the level 1.5285 which is considered a strong resistance and also a weekly pivot point that of course until it hits the support at level 1.4887 which is also a weekly pivot point.
But there is another possibility that might yet take place and that is if the price broke the resistance 1.5285 and got itself a bullish signal via the blue dots in this case I do think that the price will be heading north till it hits the resistance 1.5546 which is the pivot level of the current week.
http://bigimage.cz/photos/20141121141654349152441.gif .
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The GBPCHF chart before us is giving us a up trend signal as the 3 EMA 2 and 5 and 6 are currently moving above the EMA 35 so after the other indicators confirm the bullish direction logically i will head for buy positions .
Above the candles i can see that the dots created by the Barabolic Sar indicator which is an indication for the possibility that the direction is about to be heading downward also monitoring the buy signal in front us on the MACD indicator which is currently moving above the level 0 for now in addition to that there is a downward signal formed by the CCI line which is currently located at Lower level .
So based on the EMAs signals shown i can say that i do prefer the buying positions that are if no bearish signals are shown in front of us .
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Spoiler: