What better way to start the new year than with a EURCHF long?
I am open to suggestions.
EUR view:
➡️ Inflation in the eurozone will rise slightly in early 2023 and climb towards the 3% mark🟢
➡️ In addition, however, it will fall more sharply in the following months than the ECB currently expects, forcing the ECB to cut interest rates earlier than planned🟢
...
Our strategy, polished by years of trial and error has helped us identify what seems to be a great trading opportunity and we are here to share it with you as the time is ripe for us to buy EURCHF.
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EURCHF has been in a downtrend for quite some time now. Recently broke our trend and technically tells us that it is ready to buy.
After the breakout it continued buying without any setback. But the market needed a breather and gave us a corrective move and a possible flag to continue the pattern been broken out of its trend. After a retest we can conclude that...
Monthly:
-Inverse H&S pattern.
-IC.
Weekly:
-Imbalance.
-Impulse and correction pattern.
-Previous week low taken as liquidity so now we target buyside liquidity,
Daily:
-Over extended M formation.
-Imbalance acting as magnet for price.
-Daily low acting as support.
4H:
-Inverse H&S pattern.
-Imbalance acting as support.
Pair is testing the broken support level after being rejected by the resistance at 0.98. I think is going to try is going to test again the 0.98 resistance. The double bottom is still active. SL triggers if a weekly candle breaks down the support and closes under it.
The price of the currency pair is expected to start a downtrend after reaching the resistance level of 0.98191
Consider your risk management before entering a trade.
Pay attention to economic news and events that may affect the EUR and CHF exchange rates
hi there
i do a basic technical analysis
i see the trend already change from bull to bear
reason ; break the support trendline
my idea ; i will wait the retest and do a SHORT
disclaimer
i just share what i see , what i learn, what i think
this is not a recommendation
be SMART !!
Hi traders
The price broke the downward trend and it has risen . We are expecting a pullback before continuing higher.
The pullback towards the previous resistance would be bullish and the long position can be taken then.
Target is shown on the chart
If the price comes back down below the downsloping support line, this trading idea will be invalidated
Assumptions:
- EUR/CHF is observed to be adhering to a robust trendline channel, indicating a clear directional bias in the market.
- Entry is suggested at the prevailing price of 0.97560.
- Stop Loss is recommended to be placed near 0.96960 to mitigate potential downside risk.
- Take Profit levels are set at TP-1: 0.98150 and TP-2: 0.98760.
Analysis:
EUR/CHF...
EURCHF is approaching the top of the multi year Channel Down pattern with 1D on bullish technicals (RSI = 66.643, MACD = 0.006, ADX = 55.830) but with a weekly chart almost overbought. The 1D RSI has already posted its first LL which suggest an underlying Bearish Divergence. We turn bearish on this pair targeting the 0.5 Fibonacci (TP = 0.9600) like the previous...
