EURCHF: Still downtrend. This pair has created a head and shoulder pattern in monthly time frame. It has broken the neck line so we anticipate to reach to the theoretical target. To optimize target I have also used channels and Fibo.
I have three scenarios, but all of them will result in a downtrend.
Pass 1: buy after the pull back to at least the shown target. But its maximum target is high level of the channel.
Pass 2 and 3 are obvious. Seeing weakness' in buyers either in 4HR channel or after breaking it, shows that we should sell. targets are shown.
I have three scenarios, but all of them will result in a downtrend.
Pass 1: buy after the pull back to at least the shown target. But its maximum target is high level of the channel.
Pass 2 and 3 are obvious. Seeing weakness' in buyers either in 4HR channel or after breaking it, shows that we should sell. targets are shown.
Trade active:
Scenario number 2 is active.