GOOD DAY TRADERS
> HERE'S A LONG IDEA ON THE EURCHF PAIR, THE EURO HAD A GOOD WEEK IN THIS PASSING WEEK WITH ANNOUNCEMENTS OF A NEW RECOVERY FUND BY THE EUROPEAN COMMISSION.
> SWISS TOOK A HIT IN THE PREVIOUS WEEK THIS ON A COMBINATION OF EARLY RISK SENTIMENT AND WEAK SWISS ECONOMIC UPDATES
> EURCHF IS IN AN UPTREND AS WE SAW THE PAIR BREAKOUT OF THE DESCENDING TRIANGLE THE PAIR JUST BOUNCED AT 50% FIBONACCI RETRACEMENT AT SUPPORT LEVEL 1.06693.
SHOULD WE TRADE ABOVE THIS LEVEL WILL BE LOOKING FOR LONGS IN THE PAIR.
TARGET 1 - 61.8% FIB EXT ( 1.06598)
TARGET 2 - 78.6% FIB EXT ( 1.070790
ENTRY - FOLLOW YOUR ENTRY RULES
RISK MANAGEMENT
PERIOD - DAY TRADE
> HERE'S A LONG IDEA ON THE EURCHF PAIR, THE EURO HAD A GOOD WEEK IN THIS PASSING WEEK WITH ANNOUNCEMENTS OF A NEW RECOVERY FUND BY THE EUROPEAN COMMISSION.
> SWISS TOOK A HIT IN THE PREVIOUS WEEK THIS ON A COMBINATION OF EARLY RISK SENTIMENT AND WEAK SWISS ECONOMIC UPDATES
> EURCHF IS IN AN UPTREND AS WE SAW THE PAIR BREAKOUT OF THE DESCENDING TRIANGLE THE PAIR JUST BOUNCED AT 50% FIBONACCI RETRACEMENT AT SUPPORT LEVEL 1.06693.
SHOULD WE TRADE ABOVE THIS LEVEL WILL BE LOOKING FOR LONGS IN THE PAIR.
TARGET 1 - 61.8% FIB EXT ( 1.06598)
TARGET 2 - 78.6% FIB EXT ( 1.070790
ENTRY - FOLLOW YOUR ENTRY RULES
RISK MANAGEMENT
PERIOD - DAY TRADE
Trade active
HOLDNote
YOU CAN ADJUST SL TO GO RISK FREETrade closed: target reached
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.