Long EURCHF Target 1: 1.09782 (High probability) Target 2: 1.10155 (High probability) Target 3: 1.10729 ( low probability)
a possible break out for an uptrend day since the price broke1.10563
This pair's downside movement has come to a halt during Asia today at around 1.09655. This region is in line with historical support and resistance, as well as the upwards trend line. Bullish price action is what we're after in the next few hours before we engage long on this.
EUR/CHF broke through the down trend line and should be going up
FX:EURCHF EURCHF Safe Trades;
Price has broken north of the descending channel and is bouncing off previous support. LONG here from 1.0991 with a STOP under the recent low at 1.0949 may make progress.
EURCHF has broken out of the prolonged and boring corrective structure which has lasted for more than 120 days, now we are presented with a strategic buy entry from here up to the trend line of the larger structure as the initial target.
Trend continuation or the Bat, which one do you guys fancy more? Take the chance and buy at the 1.27% extension to the downside or wait for the completion of the Bat Pattern at the 1.618% extension / 88.6% retracement and ride that back up to 1.09460? Take your pick. Happy trading :)
Breakout today. Looking for upside after retracement.
FX:EURCHF Elliott Impulse: Bearish Bat: / Short WHEN and IF completed... Point B: 38.2% to 50% XA Point C: 38.2% to 88.6% AB Point D: 88.6% XA Targets: TP1 38.2% AD TP2 61.8% AD Safe Trades