Eurchflong
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
EURCHF approaching support, potential for a bounce!
EURCHF is expected to drop to 1st support at 1.08717 where it could potentially react off and up to 1st resistance at 1.08881.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
EUR/CHF: Swingtrade-Opportunity#Buy on H1Hey tradomaniacs,
welcome to another free signal!
Important: Wait for the break above previous high and place a Buy-Limit.
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Type: Swingtrade
Buy-Limit: 1,09555
Stop-Loss: 1,09230
Target 1: 1,09866
Target 2: 1,10163
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Peace and good trades
Irasor
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Possible trend shift in EURCHF – going long
The Tidal Shift Strategy has just bought EURCHF at 1.09146. The system recommends entering this trade at any price between 1.08995 and 1.09297. The signal was issued because our Speculative Sentiment Index has hit its most extreme negative level for the past 145 trading hours at 2.24374, which suggests that the EURCHF could be trending upwards.The 14-period Average True Range on a daily chart is 0.00121, so the stop loss has been set at 1.08542. This stop loss order is a trailing stop that will move up as the market moves up. There is no profit target for this strategy. We expect to be closed by the stop loss.Tidal Shift is a trend trading strategy that aims to catch shifts in trend using trader sentiment as an indicator. The strategy looks to buy when the Speculative Sentiment Index reaches its lowest value for the past 145 trading hours, and looks to short when it reaches its highest value for the past 145 trading hours.
Signal ID: 67336
Time Issued: Tuesday, 06 August 2019 05:00:16 GMT
Status: open
Entry: 1.08995 - 1.09297
Limit: N/A
Stop Loss: 1.08542
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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
FREE ANALYSIS ON EURCHFFREE ANALYSIS ON #EURCHF
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Expecting some bullish momentum soon on this pair.
MACD already showing Bullish divergence. Keep an eye out for this pair