EURCHF: Still downtrend. This pair has created a head and shoulder pattern in monthly time frame. It has broken the neck line so we anticipate to reach to the theoretical target. To optimize target I have also used channels and Fibo.
I have three scenarios, but all of them will result in a downtrend.
Pass 1: buy after the pull back to at least the shown target. But its maximum target is high level of the channel.
Pass 2 and 3 are obvious. Seeing weakness' in buyers either in 4HR channel or after breaking it, shows that we should sell. targets are shown.
I have three scenarios, but all of them will result in a downtrend.
Pass 1: buy after the pull back to at least the shown target. But its maximum target is high level of the channel.
Pass 2 and 3 are obvious. Seeing weakness' in buyers either in 4HR channel or after breaking it, shows that we should sell. targets are shown.
Trade active
Scenario number 2 is active.
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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.