EURCHF is currently on our support level, and forming very interesting price action on the 4 hour chart.
From the bearish perspective, we see the pair might be forming a head and shoulder pattern. However this isn't complete yet.
From the bullish perspective, we can see it has already completed the ABCD pattern. Breaking prior structure. We can see it has formed...
The pair has created an opportunity for a sell trade. We saw an impulsive move to the downside and a beautiful retracement. Now we see the pair respecting the Fibonacci level and also breaking the short term uptrend formed during retracement. Additionally, we see on the daily chart that the pair just broke out of a range.
In our opinion, we should see a move to...
This pair is an interesting one to watch. EURNZD is at the 0.5 fib level and seems to be forming the reverse head and shoulder pattern. Really tricky. We will rather wait and see how price action plays out.
We see trading opportunties with this pair. The pair seems to be respecting the short term 4 hour trend line . If this pair reaches the trend line level again, watch price action around there before taking a buy position. If the pair breaks the trend line , wait for retest to confirm break out be for taking a sell position.