Eurchfbreakout
What say you, Swiss Franc? (1)From the previous two trading session, the Swiss Franc 0.39% descended strongly against its major Forex currencies. An acquaintance of mine has told me that although no news of it was there, it seems that the SNB (Swiss National Bank) has intervened with the Swiss.
When I started stock and forex trading, I've already heard rumors and sayings that the Swiss Franc 0.39% is a 'controlled currency.'
Several Swiss Franc pairs have reached several resistance/support; after two days of intense decline on the currency, I'm expecting some pullback where it may give a better entry position to be able to enjoy the ride!
EURCHFOur preference: sales position below 1.1045 with targets at 1,1015 & 1,0990 in extension.
Alternative scenario: in excess of 1,1045, aim for a continuation of the rise with 1,1060 & 1,1075 in line of sight.
Comment: the slip under the 1,1045 constitutes a negative signal which opened the way to 1,1015.
EURCHFOur preference: position bought above 1.0865 with targets at 1.0900 & 1.0910 in extension.
Alternative scenario: in break of 1,0865, a continuation of the decrease will be envisageable with 1,0850 & 1,0835 in line of sight.
Comment: The RSI militates for a rebound.
LONG SET UP IN EURCHF - 4H CHARTHey Guys,
Simple idea, wait for breakout and start trading the move!
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Hola Chicos,
Idea simple, esperad al breakout y operad el nuevo mivimiento!
Carlos
Long EURCHF Longterm based on 4H - 1M ChartsWe can see the EURCHF is nearing a major support level and if we look at the 1W + 1M charts, we can see sellers are slowly diminishing and momentum is changing in favour of buyers, however we may see this manage a leg lower before price can move up. A conservative entry would be to wait for a break of the downtrend line, whilst staying above the uptrend line and closing above it.
I have set a wide stop on this, however, my personal approach will be more aggressive with a tighter stop loss and my first target will the resistance level marked out.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Please comment below and Like if you agree with my analysis.
EURCHF: Expecting a bullish moveI believe that successful trading strategies rely heavily upon identifying consolidation zones. Consolidation zones provide us the right direction of the market. Consolidation happens when a market move sharply upside or downside. Later, a trader can use these consolidation zones to identify patterns, whether it be a continuation or reversal.
It requires attention and care. Rather than turning out to be a factory of producing signals, it is better to sit down and look for a setup. Setups are important because we are planning a trade and execute them on time. If you fail to plan a setup, then you are planning to fail.
Another advantage of trade setup is that we know where to get out and the right time to go in. Know the market. Study the price movements and make your trades.
My charts use price movements, patterns, structures and indicators such as moving averages and oscillators. Trading intelligence is combining multiple knowledge to produce a favorable trade setup and plans.
EURCHF short sell opportunityDon't miss it! Available for 30 min in 15 min time frame, for an hour on a 30 min time frame.
Expected Figures From EUEU just came out with new economic figures. Expected Consumer Price Index stats were delivered without shaking this short setup, I have been looking at this week. CHF came out with unchanged interest rate, also following consensus. I've a floating SL around the 200ema and expect it to hit around 1.06400, which is a previous tested psychological level.
EURCH D TECHNICAL ANALYSISWe see the price fall by the end of the week to 1.0540 - The setup will invalidate if the price breaks 1.0860 level.
EURCHF price being squeezedPrice is currently forming a descending triangle pattern. Although this is a bearish price action pattern, we need to see a break of the zone before confirming. Therefore, it is safe to say there are 2 possible outcomes to price this week. Look for a break and retest of either the TL before going long to the next resistance or a break and retest of the weekly support zone before further bearish PA. My outlook is short given the higher timeframe bearish price movement
