EURCHF - Selling strength this morning.
DAY TRADE - EXPIRES AT 9PM
Trade Idea
Broken out of the triangle formation to the downside.
The overnight dip has been bought into and there is scope for further bullish pressure going into this morning.
We look for a re-test of the upward trending resistance.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1.1105, resulting in improved risk/reward.
The conflicting views have resulted in the immediate outlook being hard to interpret.
We look to Sell at 1.1105
Stop: 1.1125
Target 1: 1.1055
Target 2: 1.1020
Trade Idea
Broken out of the triangle formation to the downside.
The overnight dip has been bought into and there is scope for further bullish pressure going into this morning.
We look for a re-test of the upward trending resistance.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1.1105, resulting in improved risk/reward.
The conflicting views have resulted in the immediate outlook being hard to interpret.
We look to Sell at 1.1105
Stop: 1.1125
Target 1: 1.1055
Target 2: 1.1020
Comment:
Move stop to 1.1081
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Move stop to 1.1112.