EURCHF turning bullish for the rest of the year.
This is the EURCHF pair on the 1W time-frame. In the past two weeks, the pair has posted a strong rally, recovering almost all of the late February's losses. The last time that the pair has had a similar two-week rally after contact with the Lower Lows trend-line (bottom) of the Channel Down, was in May 2020. That kickstarted a +1 year (gradual) rise that topped on the Lower Highs trend-line of the Channel and in fact got rejected on the 1W MA200 (orange trend-line).
As a result, our plan on EURCHF is to buy every pull-back for the remainder of 2022, with an initial target the 1W MA50 (blue trend-line) and then the 1W MA200 in extension.
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As a result, our plan on EURCHF is to buy every pull-back for the remainder of 2022, with an initial target the 1W MA50 (blue trend-line) and then the 1W MA200 in extension.
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Please like, subscribe and share your ideas and charts with the community!
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