Signal_Centre
Short

EURCHF - Selling strength this morning.

FX:EURCHF   Euro / Swiss Franc
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
Comment: Nice rejection at the 1.1105 resistance.

Move stop to 1.1112.
Comment: Move stop to 1.1081
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Looks like a reversal might be best to add longs
Reply
@fali4209, Thanks for commenting! You are right, there was a reversal candle yesterday. Fortunalty it has headed lower, although a little concerned about it stalling here.

Looks like it's holding at a 78.6% Fib level, which could mean some sort of short term bottom pattern in forming. I have moved the stop to 1.1081.


Reply
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