We discussed this market last week and the fact that price was looking to pullback into the major support level and 50% Fibonacci level.
Now price has pulled back into this level we can see a bullish engulfing bar and rejection candles have formed rejecting the support.
As yet there has been little follow through and for a move back into the recent swing high...
Looking into the higher time frames we can see that we broke the bullish flag formed and are now sitting around the key level of 105.500 waiting for the markets next move. The last daily candle closure was a bullish engulfing candlestick suggesting price may want to continue up into the key structure marked after making a slight pullback. If we don’t see this and...
EURCHF is bouncing from the lower end of a large range.
Price action has remained above the large support band between 1.1106 to 1.1200 on the weekly chart. The bullish hammer candle that was posted on the week ending 7th June 2019 suggests that buyers could return in the short term.
The daily chart...
New trading suggestion:
The price is in an up trend and we forecast the uptrend would continue.
But there is possibility of temporary retracement to suggested support zone (0.000235 to 0.000187), if so, traders can set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (0.000235)...