This pair has been ranging for almost three months! It recently broke short out of the range. Looking for entries to continue short after this pullback/retest of trendline, maybe tomorrow, maybe Monday...price action will decide 📈
Will update if it enter 🙂
The Coronavirus crisis shows the weakness of EU and the increasing debt that is being increasingly rising on EU states will benefit CHF over the long term. You will probably EURCHF parity in the next 18 months.
EURCHF is hitting a strong resistance while also forming a rising wedge. The 61 on the fib was rejected and past times there has been a solid retest on this pair so we will wait for another retest before entry.
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WEEKLY FOREX MASTER SIGNAL
4 HOUR
Price is considering and moving pretty much sideways
DAILY
Looking for a range breakout to the downside
WEEKLY
Overall very bearish with small pullbacks, following this drop
LEVELS
SELL EURCHF @ 1.12850
SL @ 1.13360 (50 Pips)
TP1 @ 1.12270 (60 Pips)
TP2 @ 1.12070 (80 Pips)
SL TO BREAK EVEN @...
Was expecting a flat correction and a move to the upside, but it seems like the correction is not over yet. The pattern I am seeing now, is a Double Three correction with the middle wave in the making.
Will be shorting this pair at the break of the trendline. Fib retracement levels should serve as targets.
