THE BULL STRENGTH WEAKENED ON THE FIBRE

The eurusd has been experiencing slow movement to the upside. Therefore, forming inside patterns. This is a signal telling us that the downtrend would soon resume. The Fibre has been in a bull trap since last month. Consequently, we should be waiting for a sell signal to be able to scale in to go short on the fibre. Finally, patience is the key to trading successfully on the fibre. A sniper waits patiently to get his target. So we need to wait patiently for a sell signal to be able to join the main downtrend on the fibre.

PLANNING TOWARS RESUMPTION OF THE DIPS ON USDCHF

Considering the beginning of the month there is usually the manifestation of a retracement. In other words, price needs to rise to be able to fall. In the beginning of June we can see a rise in price. In other words the bulls took over the market in contrary to last month's domination of the bears. By my fibo retracement I expect price to turn back at 61.8% level on the daily time frame. Therefore, this gives room for the swing traders to wait for price to hit 61.8% on the daily timeframe and watch the bears take over the market. In other words, place a sell limit at 61.8% on the daily timeframe. But do not forget to place your stop loss a little above 88.6% on the daily timeframe. And first take profit would be at 0.92661. This is my bias for the day. See you on pay day.

STRONG BEARISH SIGNAL ON THE USDCHF

The rally on the usdchf has been exhausted. It is time to sell the rallies on the usdchf. The current inverted pin bar on the monthly time frame, is evident of the overtaking by the bears. So get ready to take a smooth swing trade to go short on the usdchf. The best way is to wait for a retracement above the ma on the 4 hr timeframe, with a confluence of a doji on the 15 minutes timeframe. That will give you a perfect entry. So placing a sell limit order would do the trick. And don't forget to put your stop loss and take profit.

EURCHF FURTHER DIPPENS

The main trend on the eurchf is bearish. It has been on the dips for years. And currently it is on the move to further dippen. Therefore the euro further weakens against the strength of the Swiss franc. To trade the eurchf wait for a retracement above the ma and take a good entry at 1.03315. You can place a sell limit. But don't forget to put your stop loss and take profit. Stop loss should be at 1.03593 while take profit should be at 1.02083. That's my bias for today.