After breaking the long term downtrend in EURCHF, the price is getting ready to go up again. If the current resistance and downtrend line break, there will be no other important obstacle to prevent bullish until the price reaches 1.103.
EURCHF is stuck on the demand area and forms Inverse Head & Shoulders Pattern, possibly it will go up to the supply area.
Should price breakout on the upper side of the triangle, I will be long and looking for price to retest previous strong support level of 1.11840. Price target derived from height of the highest point of triangle.
Although I don’t rely on patterns much, here is some clean SHS happening here.
EUR/CHF 🇪🇺 🇨🇭 is likely to bounce from the midline of the channel due to the crossover at the MACD and the possible Golden Cross of the 50 and 200 MA. If you like the idea PLEASE don't forget to hit the LIKE 👍👍👍button Also share your thoughts and charts here in the comment ⌨️ section! Appreciate your time and good luck!😉
Main items we can see on the chart: a) The price has reached a major support zone on the weekly chart b) We can see a clear breakout of the descending channel c) Currently, we can see a corrective movement above the descending channel 60 days of compression d) Based on that, if the price breaks above the compression, we expect a continuation of the...
Hi history teacher making 20k a year and day trading with £1 million positions. Very Very Very Very Very strong support. The price keeps bouncing. Why? I have no clue, and this is the beauty of Technical Analysis ™. Everything is reflected in the price. We do not need to spend countless hours doing research. Technical analysis & the price reflects everything and...
EURCHF is moving inside 2 strong weekly structure since the 14th of July. Market created few false signals and quite a lot of noise withount taking a clear direction yet. The price on the monthly chart is close to a extremely strong descending trendline too. At the moment on the 4h timeframe we can notice that the market created a channel cross and broke over the...
We got a clear breakout of trendline and resistance and we got the retest now. Depending on how this candle close we can see the price going up 📈
EURCHF will drop due to break the up trend
The pair had to prove me right! Huh? I mean I was just taking a wild guess based on the technical analysis... I'm to it. I have been holding from 1.0800 and I'm happy with all the blue on my mt4 😋🕺🏽