EURCHF - Are We Seeing A Change In The Trend?!
Updated
Analysis:
Bullish Confluences
Bearish Confluences
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Bullish Confluences
- Recent upwards trend
- Recent breakout of longer term downwards trend
- Failed to put in a lower low and instead put in a higher high
- Retesting an area of significance
- Fib retracement "golden zone"
- Previous downwards trendline retest for support
- The EUR is the 2nd strongest major currency whereas the CHF is the 4th weakest major currency
- 1K long position decrease for the CHF
- 6K short position increase for the CHF
- Recent CHF news has been bearish
Bearish Confluences
- 20K short position increase for the EUR
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Trade active
Our entry criteria has been met and our order has been filled. We are long looking to see this breakout continue and for price to make a mover further to the upside as the EUR strengthens and the CHF weakens!Trade closed: stop reached
s3.tradingview.com/snapshots/2/2BHeRlDb.pngTrade Closed
(-1R) Lost
After Trade Comments:
Unfortunately this was a loss that we took today. We entered in expecting price to hold our area of support however we saw some CHF strength step into the markets which caused price to make a move to the downside and stop us out. This trade was to plan however price just didn't move the way that we expected it to which happens sometimes. All we can say is that at least it was a nice and quick loss, with that being said however, onto the next!
Stay Safe - The JPI Team
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.