EURCHF: looking for the next UPSIDE movement!
Hi everyone and welcome to our profile, today we will be forecasting a potential further bullish movement of this interesting market.
Let's start with a quick top down analysis:
In HTF the market reached and double topped with its previous swing, which is the first clue of a potential market reverse.
in LTF we can count several confluences in line with the overall bias, the market is moving inside a clear descending channel and it broke to the upside with a sharp bullish impulse, breaking the main structure and currently correcting with a high probability to see a further upside movement.
sincerely,
Cybernetics Trading Lab Team
Let's start with a quick top down analysis:
In HTF the market reached and double topped with its previous swing, which is the first clue of a potential market reverse.
in LTF we can count several confluences in line with the overall bias, the market is moving inside a clear descending channel and it broke to the upside with a sharp bullish impulse, breaking the main structure and currently correcting with a high probability to see a further upside movement.
sincerely,
Cybernetics Trading Lab Team
Comment:
Weekend Market Update:
The price reached the first swing, breaking it. The further price action during the upcoming week will give us clues about the next movement.
However, we are still holding this position and in the scenario of market reverse we will exit the full trade.
Sincerely,
Cybernetics Trading Lab
The price reached the first swing, breaking it. The further price action during the upcoming week will give us clues about the next movement.
However, we are still holding this position and in the scenario of market reverse we will exit the full trade.
Sincerely,
Cybernetics Trading Lab
Trade closed: target reached:
The market reached the main swing, we closed the full position and we will be waiting for possible further bullish price action before re entering this market.
The full position has been closed with a profit of 3.6%
The market reached the main swing, we closed the full position and we will be waiting for possible further bullish price action before re entering this market.
The full position has been closed with a profit of 3.6%
As we expected, the market performed an interesting sharp movement to the upside for about 150 pip, and it's currently forming more correction, eventually for more continuation.
We will definitely keep an eye on this market and see how it will performer during the next trading week.
Sincerely,
Cybernetics Trading Lab