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Eurchfsignals

EURCHF | Perspective for the new weekSince my last publication on this pair (see link below for reference purposes), we have seen price move 70pips up before correction. Price has been caught within a range above major Demand zone (Fr1.07800) since the beginning of the month giving the impression that Buyers are strong here! We all saw EUR/CHF surge higher on Tuesday & Wednesday - breaking out of its tight recent consolidation range @ Fr1.08400 which tells me one thing... Buy! But when? Tendency: Uptrend (Bullish ) Structure: Bullish Rectangle | Supply & Demand Observation: i. Breakout on the 24th of Nov. 2020 is a buy signal cast in stone as Sellers continue to find it difficult to push the price below Fr1.07700. ii. For me, Fr1.08100 appears to be a temporary Demand level to continue the rally. iii. This been said; patience is pertinent as a second Breakout off Fr1.08400 shall be an emphatic reason to hop in for the ride. iv. For me, Fr0.90800 level shall be my yardstick (new Resistance level) for selling opportunities in the following week(s). Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward: 1:6 Potential Duration: 1 to 5 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
EURCHF | PERSPECTIVE FOR THE NEW WEEKRisks remain asymmetric longer term as the SNB holds the downside in check and a possible global recovery in 2021 may bring some relief to the EURCHF but in the meantime, it is evident that the Bullish momentum finally begins to make a statement in the market. I shall be looking out for a "quick" temporary counter-trend opportunity on this pair in the coming week in anticipation of a Bullish continuation. This bias is a result of the Bearish engulfing candle on Friday which broke down key level @ 1.07780 which also signifies a correction phase following the Bullish engulfing run on the 9th of Nov. 2020. Tendency: Temporary Downtrend ( Bearish ) Structure: Breakdown | Pennant | Supply & Demand Observation: i. Price moves upward with pivot highs and lows converging toward a single point giving the appearance of a Pennant pattern. ii. Breakdown of this pattern suggests a possible Reversal which could be the correction phase of the Bullish Impulse leg on the 9th of Nov. 2020. iii. Taking advantage of this setup might require patience for a correction/retest of Trendline or Key level @ 1.07780. iv. I anticipate a target extension within a minimum of 50 - 61.8% retracement which might as well extend to a 78.6% depending on market condition(s). Trading plan: SELL confirmation with a minimum potential profit of 60 pips. Risk/Reward: 1:3.5 Potential Duration: 1 to 5 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
EURCHF | PERSPECTIVE FOR THE NEW WEEKThe Euro appears to be gaining momentum after such a long time lingering in the background of a Bullish Franc as it begins to find her way a major Demand level. A bullish engulfing candle breaking out of Major Support/Resistance level last week is a sign that supports a Bullish perspective in the coming week(s). Tendency: Uptrend ( Bullish ) Structure: Breakout | Reversal Structure Observation: i. Looking forward to an engulfing spring from CHF1.08000 level in the coming week to confirm bias. Trading plan: BUY confirmation with a minimum potential profit of 100 pips. Risk/Reward: 1:4 Potential Duration: 1 to 5 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
2
EURCHF (EURO / SWISS FRANC) - BUYYes there is buy opportunity in EURCHF. EURCHF is in down trend and over bought situation. You can see it in stochastic indicator as well. This is gives us a one confirmation to go for buy option. And there is a strong support in 1.08369 and we can see that there is an inverted candle where end of the chart and that also in over sold area, and its on a real good support. so if you consider those all there is a buy opportunity in EURCHF. Special note: We can call this trade as a countertrend trade, kind of a swing trading strategy. Coz trend will reverse from this place for certain period and keep continue the major trend. Trade at your own risk and this analysis not based on fundamentals. Like and comment on us. Follow us on Telegram - @theturningpoint
Long
by TuanMSallay
1