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Eur-chf

Eurchf market overview and trade ideasLagarde’s surprisingly dovish presser from the U.S. session spooked EUR bulls and this anti-EUR sentiment carried over to the Asian session. The pair looks like it could retrace above the previous area of interest or around daily pivots R2 or 50% of Fibonacci retracement as because the short term moving average may suggest bullish trend but actually the long term indicate us it remains bearish still on the 1-hour time frame. Another rejection from the previous area of interest or rejection from descending trend line or from any Fibonacci retracement levels as mention above could send the pair beyond the level 1.06999. A break above the 50% Fib, descending trendline, daily pivot levels any and 200 SMA could signal for a move back up to the 1.0790 but to be honest with the current situation of eurozone I feel less supportive for the euro currency after Lagarde told a news conference that risks to growth in the eurozone remained tilted to the downside and which overall tone as dovish for me including other traders I assume plus knowing that today german outlook only doing fine overall but leaving eurozone Manufacturing PMI (Jan) only fine not the service and Markit Composite bull traders got no much reason to boost the euro higher.
Short
by jessi061
EURCHF inside long term support zone, one more dumpEURCHF might provide a nice short/mid term trade here. Moved a bit up today but at the moment already failing. Been watching it for a few weeks now, think we might be closing in on a nice setup. Assumption is, one more stop hunt as i am showing here on the right. To prevent guessing, i am going to wait for that yellow circle. So want to see a break of the low, see a decent drop but then seeing it hold. Hopefully seeing something what looks like a bear flag, but isn't one. That is what i will wait for. A second version could be, if this theory plays out, is a V shape low as the red line is showing. That is usually a strong sign as well, would mean we miss the perfect entry, but rather miss perfect entry than gamble. So something to watch for the coming days.
by botje11
8
ridethepig | EURCHF Market Commentary 2020.15.01CHF a clear winner in the G10 space has been a finding strong bid via smart money smelling the markets strength of conviction in the SNB ability to intervene decreasing. Positioning is far from stretched, meaning there is plenty of room left on the boat. For those tracking the USDCHF flows 0.970x remains the key level to track: The technical picture is clearer in EURCHF in my books, a clean breakdown in play with eyes on the C leg completing at 1.06xx. I have switched to the sell side after the recent breakdown and actively adding shorts in the 1.08xx handle. The 1.06xx handle will become very attractive for longs next month... good luck all trading the selloff into end of Jan.
Short
by ridethepig
EURCHF: A solid buy setup is about to be valid!The chart pretty much explains exactly what we are preparing to do on EURCHF, go long! But... yeap, we focus on being professional and "following" the markets without making crazy price predictions as we are no guru's or wizards and we surely have no crystal ball to predict the moves. It is our duty and ongoing responsibility to be proactive and reactive at the same time to our charts and follow our basic analysis process of Past, Present, Future. In short... we decide on Monday what we will do, but so far indications are we could be buying this one!
Long
by PrimedGroup