FXtrades-gp

EURCHF: The price BROKE an interesting TRIANGLE PATTERN!

Long
FX:EURCHF   Euro / Swiss Franc
Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis📈 and Trading Tips📉, support the idea hitting the LIKE👍 button and don't forget to SUBSCRIBE✔️ my channel, you won't miss anything!

🟢Forex Pair:
EUR/CHF

Technical Analysis:
Since the end of December 2020, the price has been moving creating an interesting descending triangle pattern and few rejections on the main support level at about 1.07400 and its dynamic trendile are an extra confirmation about the validity of that pattern.
Since the 15th of January 2021, the price has been consolidating for a couple of weeks, getting now strength enough to move up.
Yesterday it broke its dynamic trendline and the next price action around that level will be essential to understand the next market movement.

If you would like to have a quick look on my previous analysis, you can check the link below:

🔴Conclusion:
In the weekly time frame, I would say that the price is moving as a trend correction of a long and strong bearish market started since April 2018 and in the daily perspective I can see the price bouncing up and down between the support zone at about 1.07500 and the resistance zone at about 1.08700.
I'm confident to see the price moving up but I'll be waiting for a re-test of its dynamic trendline before planning my long position on this trade.

Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!

⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️

Trade Safe and Responsibly,
Gianni

Comments

Perfect idea, I will add this to my watch list
+1 Reply
FXtrades-gp Dave-FX-Hunter
@Dave-FX-Hunter, I'm glad you liked that! :)
Reply
Nice analysis , keep it up !!
+1 Reply
FXtrades-gp TheDayzen
@TheDayzen, thanks so much! I really appreciate
Reply
Great setup! Thanks for sharing
+1 Reply
FXtrades-gp Mahtab_Tradia
@Mahtab_Tradia, you're welcome, many thanks
Reply
Excellent !!!!++++++++++++++++
+1 Reply
@FOREXN1, oh, I'm glad to hear that :)
Reply
so good and excellent
+1 Reply
@abel11 thanks so much 🙏
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out