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EURCHF Fundamental Analysis – September 2nd 2019Here are the key factors to keep in mind today for Euro trades: Spanish Markit Manufacturing PMI: The Spanish Markit Manufacturing PMI for August was reported at 48.8. Economists predicted a figure of 48.5. Forex traders can compare this to the Spanish Markit Manufacturing PMI for July which was reported at 48.2. Italian Markit/ADACI Manufacturing PMI: The Italian Markit/ADACI Manufacturing PMI for August is predicted at 48.5. Forex traders can compare this to the Italian Markit/ADACI Manufacturing PMI for July which was reported at 48.5. French Markit Manufacturing PMI: The Final French Markit Manufacturing PMI for August is predicted at 51.0. Forex traders can compare this to the previous French Markit Manufacturing PMI for August which was reported at 51.0. German Markit/BME Manufacturing PMI: The Final German Markit/BME Manufacturing PMI for August is predicted at 43.6. Forex traders can compare this to the previous German Markit/BME Manufacturing PMI for August which was reported at 43.6. Eurozone Markit Manufacturing PMI: The Final Eurozone Markit Manufacturing PMI PMI for June is predicted at 47.0. Forex traders can compare this to the previous Eurozone Markit Manufacturing PMI for June which was reported at 47.0. Here are the key factors to keep in mind today for Swiss Franc trades: Swiss Retail Sales: Swiss Retail Sales for July increased by 1.4% annualized. Forex traders can compare this to Swiss Retail Sales for June which increased by 0.7% annualized. Swiss Manufacturing PMI: The Swiss Manufacturing PMI for August is predicted at 45.7. Forex traders can compare this to the Swiss Manufacturing PMI for July which was reported at 44.7. Swiss Total Sight Deposits and Swiss Domestic Sight Deposits: Swiss Total Sight Deposits for the week of August 30th are predicted at CHF592.1B and Swiss Domestic Sight Deposits are predicted at CHF480.0B. Forex traders can compare this to Swiss Total Sight Deposits for the week of August 23rd which were reported at CHF591.7B and to Swiss Domestic Sight Deposits which were reported at CHF478.1B. Should price action for the EURCHF remain inside the or breakout above the 1.0830 to 1.0920 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 1.0890 Take Profit Zone: 1.1060 – 1.1110 Stop Loss Level: 1.0800 Should price action for the EURCHF breakdown below 1.0830 the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 1.0790 Take Profit Zone: 1.0670 – 1.0720 Stop Loss Level: 1.0830
by PaxForex
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