Lets start with Monthly

Because it really takes a long time to change a direction the trend still looks bearish although we had a 4 month period where it's still in a consolidation. Current price action combined with the weekly chart makes it possible that it goes up to 1.37-1.38. But the longterm trend looks still bearish and 1.16 is still in play. Focus on the 1.37 level which is a potential holing barrier because a higher move is not justifiable. If it happens the bearish view might change.


What we see here is a "222" Buy Pattern from Gartley. It looks like it missed the retracement to the 1.29 and starts to get bullish a little to early. It looks like a AB-ab-cd-CD move and would accomplish its pattern in the 1.38 area. Due the lack of the right retracement down to 1.29 its not a valid pattern so it's still possible that the market shifts but its still in play.


On the daily time frame we see a triangle. We also have a Pivot Point at 1.3147 together with R1 at 1.3299 and S1 at 1.3066. Trend looks now bullish  and there is the chance the market moves to 1.29 but even 1.3520 or 1.38 is still possible


Moving Average

On the chart below you can see what a moving average is. Its the blue line. It actually shows you the priceaction over a specific time. Now you might wonder what "moving" means - thats basically the closing/opening oder what ever you want price over a specific period. Might sound REALLY difficult but its really simple.
Moving Average of last 10 periods

The main purpose to you the moving average (MA) is to help you to see where the chart might go in the future.
There are actually two types of moving averages. Which are a little different.
The longer the period is of the moving average the slower it will be. And also the volatily might be almost flat.
Also on the other site, the smaller the period the choppier it might me.
Earlier I talked about two types of moving averages. Well these are the two:
  1. Simple
  2. Exponential
You could calculate them your own, but who wants that in the age of technology. So first come the basics and then I tell you how you might make money with it.

Fibonacci Extensions

You might also use Fib for finding targets.

In an uptrend, you use the Fibonacci Extension tool to determine where your target might be. To use the extension you need 3 points.
First, you need a significant Swing Low, then the most recent Swing High. Finally, any of the retracement levels.

Let's take a look on the daily USDCHF here. 
Former resistance turned support at 1.0510 held nicely
The 50.0% Fib level held strongly as support and,  three tests later, the pair finally it returned to move higher. You can see that it broke the last resistence of the swing (redline).
Now lets see what the extension would look like, if we put that on.
Fib extensions help us spot potential take profit points

If you take a look on the levels you can see that it almost testet EVERY level. Ok to be honest that wont happen all the time but it testet 0.618, 1, 1.5, and 1.618. So depending how aggressive you wanna trade, you could choose one of those.
And oh wonder, it also works on the downtrend ;).
Buyers could not break through the 61.8% Fib. Sellers jumped back in and brought price back down to test former lows
So lets put the extension on, thinking the downtrend will continue. The 38.2%, 50.0%, and 61.8% extension levels would have all been good places to take profit
And again. Profits would have been good ad 38.2%, 50.0%, or 61.8% levels. All these levels acted as support, possibly because other traders were keeping an eye out for these levels for profit taking as well.
But dont think this is the holy grail to money and fortune.First, nobody knows to wich extension it will move and in what time.
Second is that you have to choose a swing low. Some people might not pick your swinglows.
You will have to use your discretion in using the Fibonacci extension tool. You will have to judge how much longer the trend will continue. Later on, we will teach you methods to help you determine the strength of a trend.

Go and try it out in your demo account ;)