Before and after TA on Eurusd, DXY and Usdchf

So five days ago I did post about a few currency pairs I was to focus on which happened to be Eurodollar, Dollar index and the usdswissfranc. I did also say I am going to provide an updated version on how price played out on this currency pairs. This week was an awesome week as I made a good amount of pips in the forex market. For those who are not aware what pips is, Pips means percentage in point and it’s regarded as money depending on the Trading volume or trading order one uses to execute a trade.

•Eurusd

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Here is a before and after chart analysis of Eurusd which I posted the before chart five days ago explaining price actions/technical analysis on this currency pair. My initial bais on this pair was up due to certain confluences and technical factors being met on the chart. Price went about 280pips to the upside, on a standard lotsize(1.00 lotsize) to execute such trades holding it to 1.25 region is about $2800. First target was hit around 1.23 and second target at 1.24000 level of about 160pips to the upside. The Eur gained strength again against the dollar which we just saw on the chart. My previous post, I did say never to counter a trend when price is on a heavy uptrend but only to go bearish if some kind of major levels are being breached and that we didn’t get on the Eurusd which we still saw price head back up.

•DXY

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This is the Dollar index daily before and after chart. Dollar index was also a pair I focused on as I use the Dxy to predict the directional bias on Dollar related currency pairs like the Usdcad, Usdjpy and the Usdchf which are positive correlation with the dxy while Eurusd, Audusd, Nzdusd, Gbpusd are negatively correlated to the dxy. Five days ago I also posted a chart analysis giving detailed insights on the paid and where it is headed to. One of the things i said was, a break below the psychological level of 90.00 will lead DXY to the downside with first target projected at 88.50 which is what we just saw on the before and after chart analysis.

•Usdchf

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The last chart analysis I posted few days back was the US dollar swissfranc chart analysis. I said, as long as we stay below 0.94000 we will see further downside movement which that happened. Usd was again weak against the swissfranc currency.
Price went about 140pips plus. For a standard one lot that is $1400 profit for a trader who executed a sell order from thev0.94000 level. Long term bais on this pair remains 0.9150 which Price is a few pips away from that level.