Update for EURCHF pair.
The market is nicely retracing from a key daily structure resistance.
Analyzing a price action on multiple time frames, I see 2 potential scenarios:
Bullish
If the price breaks 0.979 - 0.982 daily supply area and closes above that
I will expect a bullish continuation to 0.987 / 0.9915 levels.
Bearish
The market is trading in a...
EURCHF is actually on a very critical support level which it didn't reach it since January 2015. Breaking this level and rejecting a pull back will open up the opportunity to take new short positions.
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Hello,Traders!
EUR-CHF is trading in a downtrend
And the pair broke out of the bearish flag
Then went down and is now about to retest
The broken support line, after that
I think the price will go down
Sell!
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See other ideas below too!
EURCHF
Intraday - We look to Sell a break of 0.9759 (stop at 0.9781)
Daily signals are bearish. There is no clear indication that the downward move is coming to an end. A break of the recent low at 0.9760 should result in a further move lower. Bespoke support is located at 0.9760.
Our profit targets will be 0.9703 and 0.9693
Resistance: 0.9800 / 0.9820...
Hello traders. If you find this analysis useful, please support me with your likes and comments. If you have another analysis at this pair, please share in comments, I will be glad to discuss with you. Happy trading!
Having revisited EURCHF, we can see that there's a really clear channel at play. We can take advantage of this by trading within the channel parameters.
There's EUR news tomorrow that may help move EURCHF back up to the highs of the channel.
Trade Idea:
- Watch for break of the descending red trendline for confirmation
- Once entered, SL below the lows (below...
✅After the retest of the of horizontal resistance
It makes sense to expect a bearish correction
As the EUR_CHF is overbought and the market players
Will be taking profit from the level
Fueling a selling wave
SHORT🔥
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Hey traders, in the coming week we are monitoring EURCHF for a selling opportunity around 0.98 zone, once we will receive any bearish confirmation the trade will be executed.
Trade safe, joe.
I have nicely predicted a pullback from a key weekly structure on EURCHF.
Ahead is a strong daily supply area.
To catch a further bullish continuation, wait for a bullish breakout (daily candle close above) of 0.9786 - 0.982 area.
After a breakout, a bullish continuation will be expected to 0.987 / 0.9915
❤️If you have any questions, please, ask me in the...
That’s a follow-up of Short Term Bullish Idea _ EURCHF M15 originally shared on 04-08-2022.
Target 1 ….. Achieved on 06-08-2022 ( 30 Pips )
Trade Management:
1- Close half lot size.
2- Move SL to Entry @ 0.9770
Fundamentals:
EUR - continue to have energy crisis & poor monetary policies in controlling inflation
CHF - starting to bring rates above negative territory, safe-haven currency capitalizing of eurozone weaknesses
*More fundamentals in weekly commentary paper for Ace Traders Club members
Technicals
Break and retest of 0.98 key area
Bearish trend still valid...
EURCHF has formed a double top with a strong bearish engulfing on an important level of resistance. The long-term trend is bearish and it is a high probability that the price will continue to drop from its pattern to resume its long-term downtrend.
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EURCHF is currently in wave 2, which is an ABC wave.
Waves A and B were simple enough but wave C was a different story! A really complex flat correction. We have however come to the completion zone for the correction which is the structure level at 1.0088. We're anticipating wave 3 soon, which is often the biggest wave!
Trade Idea:
- Watch for price to come down...
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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