Since January 2015 the EURCHF has been in a somewhat dormant bullish trend, with some dips and sideways movement, however there hasn't really been a sign of a definitive trend.
We had some potential signs of a bullish trend in July 2015 with a breakout of the range (highlighted by the rectangle to the left. We had a re-test of the range and then a further move signifying a potential long move. Unfortunately price touched the 1.09800 area (highlighted by the 2nd blue line) and could not break it, creating a sideways market.
Now recently we have just seen a breakout from the range again and hopefully we can get a breakout of the 1.09800 area and a clear close on the WEEKLY time frame confirming the breakout and new highs.
If this happens I would seriously consider monitoring price action around the small rectangle to take this position LONG as previous structure is considerably above at 1.20000.
LETS KEEP AN EYE ON THIS ONE
We had some potential signs of a bullish trend in July 2015 with a breakout of the range (highlighted by the rectangle to the left. We had a re-test of the range and then a further move signifying a potential long move. Unfortunately price touched the 1.09800 area (highlighted by the 2nd blue line) and could not break it, creating a sideways market.
Now recently we have just seen a breakout from the range again and hopefully we can get a breakout of the 1.09800 area and a clear close on the WEEKLY time frame confirming the breakout and new highs.
If this happens I would seriously consider monitoring price action around the small rectangle to take this position LONG as previous structure is considerably above at 1.20000.
LETS KEEP AN EYE ON THIS ONE