Hi Traders,
The market has broken the structure and it has on retesting the broken support turning resistance, moreover, the pair is on downtrend and it should be fine to sell this from this level; bear in mind that it's on the last days of the year, maybe trend is changing and this could be a fake breakout and it is an indication that the market finished its downtrend; if this breakout works and goes downtrend then this analysis is valid, if not and the market closes above the resistance, we may cancel the trade and open a long position.
Here is the setup:
EURCHF Sell at 1.08631
Stop Loss at 1.09076
Target Profit at 1.09076
Good Luck and Happy New Year everybody!
The market has broken the structure and it has on retesting the broken support turning resistance, moreover, the pair is on downtrend and it should be fine to sell this from this level; bear in mind that it's on the last days of the year, maybe trend is changing and this could be a fake breakout and it is an indication that the market finished its downtrend; if this breakout works and goes downtrend then this analysis is valid, if not and the market closes above the resistance, we may cancel the trade and open a long position.
Here is the setup:
EURCHF Sell at 1.08631
Stop Loss at 1.09076
Target Profit at 1.09076
Good Luck and Happy New Year everybody!
