Quite simple trades this. After a tremendous rally in recent week this pair has reached to a level which historically acted as a support and resistance in the past on a number of occasion. While RSI also being oversold and we have a nice bearing engulfing candle from the top which signals a reversal. I have gone short on this and marked the tp and sl as well....
Right, Right , Right! EURCHF Stumbled across some solid support before reversing Bullish. As you can see Bulls have been in control for some days now.
Price is approaching a critical resistance zone ( the grey price level price is approaching) where we may potentially see price pullback which may also been seen as 'profit taking' .
Price has potential to retrace...
Market getting ready to change trend for a sell.
RSI signalling overbought at 75 reading.
Get in on buy and enjoy your profits.
Market often forms a double top/bottom to signal trend reversal so look out for that.
Warning; trading comes with risks, trade safely and within reason. All charts to be used for guideline purposes.
A good SELL opportunity due to the fact that the current market is on a ranging market as well as the fact that it is high on RSI. We can therefore anticipate a drop.
There is further confluence when we consider the fact that the top linear level had been rejected previously 3 times.
We have had a break of market structure, we broke key support on the 4 hour time frame and we are now retesting as resistance. We also have the third touch of a key descendent trend line on the 4hr and we are sitting on in and around the 61% fib level which is key. Id like to see a lot more downside to this pair. My aim is the reverse -27 fib level for my final...
Price has been in a descending triangle on the Daily TF making lower highs, the market broke out of the support area of the triangle with the first impulse move and retraced back to the support turned resistance due to exhaustion as expected. Euro uncertainty worries continue has the Swiss Franc safe-haven status still holding. The retest gave a nice par on the...
As we can clearly see FX:EURCHF has retested resistance and rejected on the 4 hr. Looking at the weekly chart depending on how the candle closes out we could see a bullish week ahead. As shown current weekly time frame shows a clear tweezer bottom candle formation.
Also hit 61.8% fib retracement on the monthly.
Possible pullback to 1.1205 wait for confirmation....
EURCHF nearing daily trend-line.
Support at 1.12000 psychological level.
RSI oversold on Daily timeframe and lower.
Bullish divergence on the 4hr timeframe.
EUR currently showing as weak while CHF appearing strong, indicating a possible change in momentum.
We can clearly see that FX:EURCHF is in the up-trend for 4 years.
Price bounce down from 1.20000 but, we noticed that price breakout from the bearish channel, which can indicate, it is only a pullback.
After a breakout price squeezed to fake out all early buyers.
Now we are in this triangle and, if we could get a push to up-side from this triangle then we...
EURCHF has broken above a trend line on the 4H chart & retested it from the other side.
We are now long in this pair waiting for a price increase from the current level.
Stops & profit levels are marked on the chart.