I'm expecting this one to spike again to resistance area and then follow the route south to the bottom of the channel.
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
EURCHF is almost ready to make a 4H candle close above the counter trendline, which is also the mentioned breakout confirmation. If the candle close is too high then wait for a trendline retest!
The trade is active ONLY after the 4H candle close above the counter trendline!!
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Daily candle looks very strong, could be a reversal on the short term. If we see a nice flag being formed on the right coming hours or so, it is very likely to see another similar wave up. If the flag holds, it's like 70/80% chance it will play out.
Previous analysis:
We have a RSI Divergence showing a weakening bearish trend . Price formed a bullish crab pattern , it may go up form an inversed head and shoulders and break it's neckline . For a buy at 1.12832 , TP at 1.13462 and SL at 1.12589 you get a RR ratio of 2.59 .
Symbol: EUR.CHF - Euro / Swiss Franc
Timeframe: Daily, 4-hour and 1-hour
Predicted Direction: Long
EUR.CHF - Euro / Swiss Franc updates will be available in the comments section below as price-action develops.
EURCHF is on its end of 5th wave sideways which now is considered as a grand corrective wave before a new dropping impulse wave
The new impulse wave will be confirmed as valid only if it can break down through to make a new low.
What is matter to us is that we could hunt some pips during the process before it is confirmed.
LESS IS MORE!
EURCHF ist gerade im Kaufbereich (Korrektur von pinker Welle A). Hält dieser Bereich, dann kann man sich mit Long platzieren. Die Korrektur darf nicht unterhalb des 78.6er Retracement schließen. Dann ist die Korrektur invalid und es geht weiter runter und zwar bis zum nächsten Kaufbereich (Korrekturbereich grün) gehen. Jetzt im kleineren Timeframe auf...
EURCHF is testing our first resistance at 1.3295 (61.8% Fibonacci extension,38.2% Fibonacci retracement, horizontal swing high resistance) where it could potentially drop to its support at 1.2657(horizontal swing low support, 61.8% Fibonacci extension).
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully...
The Euro vs. the Swiss Franc. This pair is known as a pair trend because there are often long upward or downward trends. It is also often adapted to Swing Trading but because of its lack of volatility it is less popular with scalpers. The EUR/CHF and the USD/SHF exchange rates are highly positively correlated.
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![EURCHF: Euro / Swiss Franc - [L] Breakout Opportunity](https://s3.tradingview.com/k/KD10nKw1_mid.png "Euro / Swiss Franc - [L] Breakout Opportunity")
