AnthonyBourneForex
Long

EURCHF Long Possibilities

FX:EURCHF   Euro / Swiss Franc
EURCHF
As we look trough the EURO pairs this morning we have plenty of reason to believe we may have a slight rest bite in the pressure the currency has sustained recently and with this pair we have had a breakout to the upside of the previous weekly range between 1.0820-1.0930. As we look at the daily chart it is clear to see that we have missed the chance to enter on the break but the retest does for the time being remain on the table should we see a push down to the lows of the 4H consolidation we have found ourselves in. This entry requires some patience and is far from guaranteed so to ensure we take advantage of the set up we do need to turn our sights to the next available entry point, which comes in at 1.1000. The price action over the last week suggests trying to take any other entry apart from those above would eliminate any reasonable risk to reward ratios. With a first target at 1.1050 we need to ensure that any entries around 1.1000 we remain as strict as possible with entries as our stop loss placement is going to be key to profiting on this position. The same targets at 1.1050 remains for an entry at 1.0920 should that chance come in to play for us.
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