Good opportunity for a long position with EURUSD.
Broke downtrend
RSI and Stoch oversold
Remember to only risk 2-5% of your account!
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We have a good opportunity here with a long position for CAD/CHF. We saw it reject our support and we have several indicators projecting some upward movement. It was oversold on both the RSI and Stoch which further indicate upward movement on the 4hr.
I think we have a good opportunity for a short position here. We are right at a support that turned into our resistance and we are coming up to our downtrend line which has held for some time.
It looks like we found our resistance point and should see some downward movement. We see that RSI and Stoch are both overbought and should lead to some downward movement for profits.
***Remember to only risk 2-5% per trade!!***
Indicators for a short:
1. We've seen this pair reject our resistance line.
2. Overbought on the RSI 4hr
3. Overbought on the Stoch 4hr
We should continue to see this pair make downward movements over the next few days.
Here is a good opportunity to get into a short position for USDCHF. We've seen this been overbought on the RSI and Stoch on the 4 hr chart and should see some downside in the upcoming days.
We have a great spot for an entry with the potential for a lot of profit. With EURUSD near a key level of support, we can place a BUY. As we can see the RSI and Stoch both crossed over the oversold area, indicating potential upward movement for EUR USD.
