Get started

Eurchfanalysis

EURCHF possible long After breaking the corrective channel the pair seems to have found support again. Although it is not a very strong area of support we can see that this area has been rejected twice last month. RSI also seems to confirm that a bigger corrective move might be in the cards. On top of that the pair printed a doji yesterday. All those factors combined make me feel confident to take a counter trade with price probably recovering at least until the 1.119 area. Keep in mind it is a counter trade as the main trend is still bearish. We can see the same maybe a bit more clearly on the 4H chart
Long
by MicKi
1
ELLIOT WAVE: EURCHF SET TO EXTEND HIGHER IN THE LARGER CYCLEHi Traders, The rally on EURCHF from the major low at 1.11621 took the form of Elliot wave impulse structure, labelled (i)-(v). According to the Elliot Wave theory, a three wave retracement follows every impulse move, in the EURCHF's case, the decline from wave 1/A high unfolded as a three-wave (a)-(b)-(c) zigzag pattern in wave 2/B. . The correction also finds support with a bullish pin bar at a key horizontal support level that lined up with 61.8% Fib of the impulsive move. If the count is correct, a 5-3 wave cycle is completed, and the price can be expected to resumes in the direction of the impulse according to the theory. . What does this mean for the EURCHF? The price is expected to extend higher in a five-wave pattern in wave 3/C. A target above wave 1/A high is plausible in the mid-term. . Do you like this Elliot Wave Analysis? Kindly leave a comment. Thanks for reading! Veejahbee.
Long
by Veejahbee
ELLIOT WAVE: EURCHF SET TO EXTEND HIGHER IN THE LARGER CYCLEHi Traders, The rally on EURCHF from the major low at 1.11621 took the form of Elliot wave impulse structure, labelled (i)-(v). According to the Elliot Wave theory, a three wave retracement follows every impulse move, in the EURCHF's case, the decline from wave 1/A high unfolded as a three-wave (a)-(b)-(c) zigzag pattern in wave 2/B. . The correction also finds support with a bullish pin bar at a key horizontal support level that lined up with 61.8% Fib of the impulsive move. If the count is correct, a 5-3 wave cycle is completed, and the price can be expected to resumes in the direction of the impulse according to the theory. . What does this mean for the EURCHF? The price is expected to extend higher in a five-wave pattern in wave 3/C. A target above wave 1/A high is plausible in the mid-term. . Do you like this Elliot Wave Analysis? Kindly leave a comment. Thanks for reading! Veejahbee.
Long
by Veejahbee
Eur-Chf AnalysisIn the last weeks, CHF (Swiss Franc) has been very weak against all the major currencies. Most likely there is more than one reason about it, including the SNB (Swiss National Bank) that has sold Swiss Francs and bought Euros (as it has often done in the last four and a half years). Today I analyse Eur-Chf because it has reached an interesting level. Two aspects are shown in the chart. The first, the price has reached an important area of resistance (1.14700/1.15000) that will hardly break easily. The second, the 1.13600 level (approximately), the price of Eur-Chf on March 7, the day Draghi announced a new TLTRO for September during the ECB meeting. The TLTRO (Targeted Longer-Term Refinancing Operations) that is the loan of money by the ECB to the credit sector (banks) at particularly favourable conditions, lasting four years to alleviate the problems of collection of European banks and support loans to families and businesses. In other words, different names (Quantitative Easing and TLTRO) but the same type of operation (loans non-repayable to banks). Yes, because I strongly doubt that at the end of the four years, the banks will repay the loan. All this translates into greater liquidity on the markets and, therefore, depreciation of the Euro. And if in the short term it is the speculation that moves a currency pair, in the medium-long term they are the fundamentals that decide the right exchange rate. For this, in the coming weeks, we will see a return of Eur-Chf, as the first target, in the 1.12000 area. Then there would be to do a speech about CHF as a safe haven currency in times of crisis, but given the trend of Wall Street and the new highs reached (Nasdaq) or about to be reached (S&P 500), it is still a premature speech. However, selling Eur-Chf to cover the upward investment in equities, balancing the portfolio, could be a wise idea.
Short
by TradingwDavid
2