EURCHF is over extended and overbought on stoch, MACD, RSI and other indicators.
It is at resistance levels also.
It has practically doubled the previous leg, and looks like a point where buyers will temporarily flee!
It is at resistance levels also.
It has practically doubled the previous leg, and looks like a point where buyers will temporarily flee!
Trade active
Comment:
EURCHD is overbought on the daily chart.
Comment:
Comment:
EURCHF is now overbought on the daily timeframe AND it is at an important resistance level. If this level around 1.1374 to 1390 proves to be a ceiling, then I anticipate that EURCHF is retrace back down to 1.1340 or even more, since the daily chart is bearish.
Comment:
Probably, a continuation of the daily down trend will occur. Market players will probably start to take some profit at this level since is is about a 100% move from the lower daily leg.
Trade closed: target reached:
Trade was properly managed and went well.
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.