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Eurchfforecast

EUR/CHF Retrace From Resistance Before BreakoutPrevious trade on this went brilliantly, I had marked out the support level on this previously and then it finally shot upwards just after my last post on the pair. It is now at the resistance level and I would fully expect this to retrace from here back to at least 0.382 Fibonacci before attempting to break through resistance again. I do not feel there is a trade to be taken at the moment as it would be very risky, so the best option is to wait for a breakout above the resistance and then long after it retraces to test this level as support. You could long after it retraces to at least 0.382 Fib but as I say that would be a risk without it having broken resistance yet. If and when it does break this resistance a target of 1.10594 can be set
by olly48
EUR/CHF Rise to ResistancePosted on this a week ago, price has just been ranging over quite a tight area since then but it has held support and stayed above the SL which looks promising for the long trade. MACD is still just below 0 but I think a long can be entered now, you can wait if you want more confirmation. EMA's are very close to crossing for long as well. Setting target at previous high of 1.08679. I expect this to continue to rise beyond this resistance but we need to see the breakout and can then re-enter longs after it sees support above the current resistance level. SL can be set below support and the lower trendline.
Long
by olly48
EURCHF | Perspective for the new week | Follow-UpMy last publication on this pair (see link below for reference purposes) witnessed price moving over 70pips in our direction (see link below for reference purposes) and we presently have another trading opportunity building up as price springs out of Demand zone which also coincides with the Bullish Trendline (Pivot III) with high expectations of a trend continuation. After finding a bottom in mid-January 2021 the second time, price continued with a Bullish character despite the political turmoil in Italy. Tendency: Uptrend ( Bullish ) Structure: Trendline | Breakout | Supply & Demand Observation: i. Weekly perspective: Reversal pattern evolving as the price continues to struggle out of a two-year Bearish run since mid last year (2020), I keep finding reasons on the lower timeframe to go LONG in the coming week(s). ii. A visual representation of my bias can be seen represented by the line drawn under pivot lows (Pivot I, II & III) which also details the prevailing direction of price. iii. It is worthy to note that price action has respected the Bullish trendline since the 18th of January 2021 and hitting this line the third time with sharp rejections last week. iv. My Key level @ Fr1.07900 appears to have a say on the momentum of both the Buyers and Sellers as either a Breakdown/Breakout of this level has determined the direction of the majority in the recent past. v. A successful Breakout of Key Level (29th Jan 2021) followed by rejection of this level during last week trading session signals an uptrend continuation. vi. It is, however, important to note here that a significant Breakdown of Trendline/Demand zone might disregard this setup as it is advisable to look for upthrust movement from Demand level should this happen... Best of luck! Trading plan: BUY confirmation with a minimum potential profit of 150 pips. Risk/Reward : 1:5 Potential Duration: 10 to 20days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
4
EURCHF | Perspective for the new weekI see everywhere possibilities that the EURCHF will continue to march higher in the coming week(s) as Buyers continue to hold strong at Demand level @ Fr1.07100/1.07400. Tendency: Downtrend ( Bearish ) Structure: Channel | Trendline | Supply & Demand Observation: i. The Descending channel guides price to Fr1.07400 followed by a sharp rejection of the Demand zone to see price action float above Key level @ Fr1.07600 ii. It is worthy to note here that the meeting of Descending channel and Bullish Trendline(day chart) at the Demand zone is a strong confluence for Buying opportunity at this juncture in the market. iii. A significant Breakdown of CA$1.07100 shall consider this bias invalid. Trading plan: BUY confirmation with a minimum potential profit of 150 pips. Risk/Reward : 1:4 Potential Duration: 7 to 15 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
2
EURCHF | Perspective for the new weekOur last publication (see link below for reference purposes) witnessed price moving 60pips in our direction to complete a Double Top pattern before the rapid decline. Last publication on this pair I emphasized how the price was caught within a range above major Demand zone (Fr1.07800); Now that price broke down our Key level @ Fr1.07900 last week; I shall be anticipating a further decline in the following weeks. Tendency: Downtrend ( Bearish ) Structure: Reversal pattern | Breakdown | Supply & Demand | Double Top Observation: i. Price breaking down Key Level @ Fr1.07900 during the course of last week trading session emphasizes the Bearish tendencies in the market. ii. I am anticipating the completion of the corrective phase for a signal to open a position. iii. Fr1.07910 and Fr1.08200 remains a zone to look out for selling possibilities in the new week. Trading plan: SELL confirmation with a minimum potential profit of 120 pips. Risk/Reward : 1:4 Potential Duration: 3 to 7 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
2
EURCHF | Perspective for the new weekSince my last publication on this pair (see link below for reference purposes), we have seen price move 70pips up before correction. Price has been caught within a range above major Demand zone (Fr1.07800) since the beginning of the month giving the impression that Buyers are strong here! We all saw EUR/CHF surge higher on Tuesday & Wednesday - breaking out of its tight recent consolidation range @ Fr1.08400 which tells me one thing... Buy! But when? Tendency: Uptrend (Bullish ) Structure: Bullish Rectangle | Supply & Demand Observation: i. Breakout on the 24th of Nov. 2020 is a buy signal cast in stone as Sellers continue to find it difficult to push the price below Fr1.07700. ii. For me, Fr1.08100 appears to be a temporary Demand level to continue the rally. iii. This been said; patience is pertinent as a second Breakout off Fr1.08400 shall be an emphatic reason to hop in for the ride. iv. For me, Fr0.90800 level shall be my yardstick (new Resistance level) for selling opportunities in the following week(s). Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward: 1:6 Potential Duration: 1 to 5 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
EURCHF | PERSPECTIVE FOR THE NEW WEEKRisks remain asymmetric longer term as the SNB holds the downside in check and a possible global recovery in 2021 may bring some relief to the EURCHF but in the meantime, it is evident that the Bullish momentum finally begins to make a statement in the market. I shall be looking out for a "quick" temporary counter-trend opportunity on this pair in the coming week in anticipation of a Bullish continuation. This bias is a result of the Bearish engulfing candle on Friday which broke down key level @ 1.07780 which also signifies a correction phase following the Bullish engulfing run on the 9th of Nov. 2020. Tendency: Temporary Downtrend ( Bearish ) Structure: Breakdown | Pennant | Supply & Demand Observation: i. Price moves upward with pivot highs and lows converging toward a single point giving the appearance of a Pennant pattern. ii. Breakdown of this pattern suggests a possible Reversal which could be the correction phase of the Bullish Impulse leg on the 9th of Nov. 2020. iii. Taking advantage of this setup might require patience for a correction/retest of Trendline or Key level @ 1.07780. iv. I anticipate a target extension within a minimum of 50 - 61.8% retracement which might as well extend to a 78.6% depending on market condition(s). Trading plan: SELL confirmation with a minimum potential profit of 60 pips. Risk/Reward: 1:3.5 Potential Duration: 1 to 5 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
📢EUR/CHF Short 😎If you have followed my previous post of this pair I said we only want to short this pair on the larger timeframes. We have another opportunity to go short now, it looks like we have broken below the wedge so I'll be waiting for confirmation to go short. With Europe going into lockdown I'd say it will continue push hard towards target area 1.06100 - 1.0600. If you like the Analysis feel free to drop a like and leave comment and follow, we are grateful for all the love out there and we will share the love back 🤍
Short
by GuardianFX
2