EURCHF
The currency pair is in a downtrend according to the strong bearish setup of the moving averages.
In the video of this morning, we were already considering a short position on it, but now we have a clear candlestick pattern, a bearish engulfing.
Stop loss and take profit may be selected to have a RR that is at least 1:2.
The Euro has been ranging against the Swiss Franc since late May. This movement sideways began when the pair breached the prevailing senior channel. Its bottom line has provided resistance, while support is being set by the 38.20% Fibo retracement. If looking at the previous price movement, it is apparent that this Fibo level has provided strong support on several...
EURCHF is approaching its support at 1.1451 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce up to its resistance at 1.1548 (38.2% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support at 5.4% where a corresponding bounce could occur.
Buy above 1.1451.
Stop loss at 1.1412.
Take profit at 1.1548.
Reason for the trading strategy (technically):
EURCHF is approaching its support at 1.1451 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce up to its resistance at 1.1548 (38.2% Fibonacci retracement, horizontal swing high...
EURJPY is approaching its support at 128.56 (100%, 100% Fibonacci extension, 50% & 61.8% Fibonacci retracement, horizontal overlap support) where it is expected to bounce up to its resistance at 130.20 (50% & 61.8% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 1.9% where a corresponding bounce is expected.
Same reasoning as EURCAD trade (capture possible drop in price to 1.50 psychological support by end of trading week). Setting up short stop order with TP @1.50 and SL @1.5604. Must monitor this closely as well esp since higher risk of getting whipsawed for this pair (1.55 is psychological resistant which makes the price "sticky" to it).
Daily:
Weekly:
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EURCHF is approaching our first resistance at 1.1601 (horizontal overlap resistance, 23.6% Fibonacci retracement, short term descending resistance line) and a strong reaction might occur below this level, pushing price down to our major support at 1.1537 (horizontal swing low support, 76.4% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (34,5,3) is...
EURCHF is approaching our first resistance at 1.1629 (horizontal overlap resistance, 61.8% fibonacci extension, 38.2% fibonacci retracement) where a strong reaction might occur below this level, pushing price down to our major support at 1.1537 (horizontal swing low support, 100% fibonacci extension, 76.4% fibonacci retracement).
RSI (55) is also seeing a bearish...
Multiple Bearish confluence factors and rejections on the weekly PRZ coupled with a break and respective retest of the previously supportive-- now resistive ascending trend-line.
Details on the chart.
Wait for a break and close confirmation.
Happy Trading!
EURCHF is testing our first resistance at 1.1600 (horizontal overlap resistance, 23.6% Fibonacci retracement) and a strong reaction might occur below this level pushing price down to our major support at 1.1540 (horizontal swing low support, 100% Fibonacci extension, 50%, 76.4% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure in...
EURCHF is approaching our first support at 1.15436 (horizontal swing low support, 100% Fibonacci extension, 50%, 76.4% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 1.1636 (horizontal swing high resistance, 100% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (55,5,3) is also...
Depending on Trumps meeting today we can see the EUR pairs strengthening (and it will make a nice bounce as showed in the chart) or it can keep falling a little bit more
Price is approaching our first support at 1.1602 (horizontal overlap support, 38.2% Fibonacci retracement, 61.8% Fibonacci extension, long term ascending support line) and a strong bounce might occur below this level pushing price up to our major resistance at 1.1766 (horizontal overlap resistance, 61.8% Fibonacci retracement, 100% Fibonacci extension)....
Sell below 0.8963.
Stop loss 0.9010.
Take profit at 0.8881.
Reason for the trading strategy (technically):
EURGBP is testing its resistance at 0.8963 (100% Fibonacci extension, 78.6% & 50% Fibonacci retracement, horizontal swing high resistance) where a reversal is expected, causing price to fall to its support at 0.8881 (100% Fibonacci extension, 23.6%...
WELCOME TO DACAPITAL TRADING!!
EURCHF just started moving as expected, quick Timeframe breakdown for free and everybody.
4 HOUR
Bullish market, expecting new highs this/next week
DAILY
Explosive bullish pressure occurred following this one
WEEKLY
3rd Strong Week in a row after taking out 1.14900
LEVELS
BUY EURCHF @ 1.16260
SL @ 1.15560 (70 Pips)
TP1 @...
