Eurchflong
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
EURCHF approaching resistance, look out for potential reversal!
EURCHF is approaching its resistance at 1.11463 where it is could reverse down to its support at 1.10905.
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EURCHF Awaiting Signal For UptrendAs we can see now, EURCHF had already break the downtrend trendline and close outside the resistance level. It gives a clear signal that downtrend phase had been over technically and awaiting confirmation to start the uptrend. I will suggest to wait the signal of Bullish Engulfing candle formation in order to make an entry. I hope it will help this community better with my analysis