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Eurchfanalysis

EUR/CHF Looking For Longing Opportunity EURCHFEURCHF reached a weekly and monthly major support level and retested the trendline after a strong impulse to the downside without any correction. We can expect growth from here before continuing the move to the downside or break of the bearish movement. The EUR is very weak at the moment as the covid-19 spread over Europe which weakening the euro, but since the new variant arrived the other currencies will be affected by it and it can cause a downtrend of these currencies as well which will cause a short term longing opportunity the EURCHF and other EUR pairs as the EUR is currently overextended to the downside. This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Long
by NCTrading
eurchfEURCHF - Long Why are we entering? - Expecting EUR strength and CHF weakness = EURCHF LONG - Approaching local double bottom - If we dont bounce from here, watch bigger double bottom at 1.05 What is our confirmation? - Bounce off the structure level (either one) Entry No Safe Entry. Risk Entry: Bounce off either double bottom Once entered, where will our Stoploss be? - below the whichever structure level price bounces from Where do we take profits? First TP: 1.07 Second TP: 1.093 Third TP: 1.3
Long
by Elrouby
1
eurchfWhy are we entering? - Approaching major structure level - Anticipating EUR strength and possible CHF weakness = EURCHF LONG What is our confirmation? - Bounce off the structure level - 2H trendline hack (2H EMA is respecting price - will be using that for confirmation) = WFB break Entry SAFE Entry: Bounce off structure and then WFB Risk Entry 1: break of WFB without the bounce Once entered, where will our Stoploss be? - below the major structure level Where do we take profits? First TP: 1.07 Second TP: 1.093 Third TP: 1.3
Long
by Elrouby
2
eurchfWhy are we entering? - Approaching major structure level - Anticipating EUR strength and possible CHF weakness = EURCHF LONG What is our confirmation? - Bounce off the structure level - 2H trendline hack (2H EMA is respecting price - will be using that for confirmation) = WFB break Entry SAFE Entry: Bounce off structure and then WFB Risk Entry 1: break of WFB without the bounce Once entered, where will our Stoploss be? - below the major structure level Where do we take profits? First TP: 1.07 Second TP: 1.093 Third TP: 1.3
Long
by Elrouby
EURCHF Bullish Indicators: 1) Support zone 1.06807 2) Hammer candlestick on daily Bearish Indicators: 1) Resistance zone 1.08602 Fib level 38.20% 2) Upward descending trendline 3) Downward trend Plan A: After forming hammer on daily its looks like the pair will move upward from here and can test the upward trendline and the resistance zone of 1.08602. Plan B: On the downside if the the pair broke the support zone of 1.06807 the pair can move further downside towards support zone of 1.06000.
by JustTradeSignals