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Euro / Swiss Franc

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EURCHF trade ideas

EURCHF Will Go Lower! Short! Please, check our technical outlook for EURCHF. Time Frame: 4h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 0.953. Taking into consideration the structure & trend analysis, I believe that the market will reach 0.950 level soon. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
3
EUR-CHF: ShortThe current price is at 0.952630. The pivot point is calculated as the average of the high, low, and closing prices from the previous trading period. In this case, the pivot point (P) is at 0.95332. Support levels are levels where the price is expected to find support as it falls. S1 and S2 are below the pivot point. The price being between S1 and S2 suggests that there's potential support in this range. In our case, S1 is at 0.95318 and S2 is at 0.95295. Resistance levels are levels where the price is expected to encounter resistance as it rises. R1 and R2 are above the pivot point. Since the current price is below the pivot point, we're not primarily concerned with resistance levels in this analysis. Given that the current price is below the pivot point and in between S1 and S2, it suggests a bearish sentiment. Traders may interpret this as an indication that the price is likely to decrease further. However, it's important to consider other factors such as market sentiment, news events, and broader market trends before making trading decisions.
Short
by Indonesia1945
EURCHF: Anticipating Pullback from Three-Month HighEUR/CHF has shown a notable development on both the H1 and M30 timeframes, forming a classic rising wedge pattern. Currently, the pair resides near a significant level, marking a three-month high around 0.95451. Adding weight to the analysis, the MACD indicator has exhibited a swing low, indicating a potential weakening of bullish momentum. This convergence of technical signals suggests a looming pullback in the near future. Technical Analysis: -Rising Wedge Pattern: On both the H1 and M30 charts, EUR/CHF displays a rising wedge pattern characterized by converging trendlines sloping upwards. This pattern typically indicates a potential reversal, with the price likely to retreat from recent highs. -Three-Month High: The current price level of approximately 0.95451 represents a significant three-month high. Such levels often act as psychological barriers and can trigger profit-taking or reversals in the market sentiment. -MACD Indicator: The Moving Average Convergence Divergence (MACD) indicator has formed a swing low, signaling a potential shift in momentum. This divergence from the price action adds confirmation to the anticipated pullback scenario. Trade Recommendation: Considering the technical signals and the overall market context, traders looking to capitalize on the potential pullback in EUR/CHF may consider initiating short positions. A prudent entry point could be around 0.95451, with a target price set at 0.94713. This level is selected based on its alignment with historical support and the anticipated corrective movement. Risk Management: As with any trading strategy, it's crucial to implement proper risk management techniques. Traders should consider placing a stop-loss order slightly above the recent swing high to mitigate potential losses in case of a reversal. Additionally, monitoring the price action closely and adjusting the trade according to market dynamics is essential to optimize risk-reward ratios. Conclusion: In conclusion, EUR/CHF exhibits compelling technical factors suggesting a forthcoming pullback from its recent highs. The combination of the rising wedge pattern, three-month high level, and MACD divergence enhances the conviction for a corrective move in the pair. Traders are advised to exercise caution, adhere to strict risk management principles, and remain vigilant for any shifts in market dynamics.
Short
by fardycurry
EURCHF Sell At 0.9514EURCHF has really good signs towards sell. As it is printing a very clear rising wedge that indicates the reversal of a trend but with a catch of Divergence it becomes even stronger which is available too. Also the sentiments on My FX Book is over 93%. I have made everything possible not to take the entry purely based on sentiment. As it is not a good practice but with good indications sentiment can play a lead role. Which I just saw on this setup. Lets hope for good. My Positions Sell Entry : 0.95143 Stop Loss : 0.9546 TP1 : 0.9482 TP2 : 0.9451
Short
by tayyabbarakzoi