Bearish drop?EUR/CHF is rising towards a resistance level which is an overlap resistance that aligns with the 127.2% Fibonacci retracement and could potentially reverse to the our take profit.
Entry: 0.97348
Why we like it:
There is an overlap resistance level which aligns with the 127.2% Fibonacci retracement.
Stop loss: 0.97755
Why we like it:
There is an overlap resistance level.
Take profit: 0.96738
Why we like it:
There is an overlap support level which aligns with the 23.6% Fibonacci retracement.
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CHFEUR trade ideas
SELL SHORT from .9700 - Potential M TopI have recently posted some recommended trades that take advantage of gaps in the market.
I did receive some adverse comments from someone who clearly doesn't understand enough about FX trading.
I've been trading FX over 25 years.
The key to making money by trading FX is to look for ANY market advantage.
If you can identity certain well established and accepted key patterns (gaps, double tops, M-Top, W-Bottoms, pinbars, morning and evening stars etc etc) then you have a gained an advantage.
That's not to say that gaps, double tops, M-Tops etc etc ALWAYS work out - of course they don't BUT............................they STATISTICALLY are proven to work out MORE OFTEN THAN NOT.
So trading these patterns and candles make perfect trading sense.
The key is identifying these patterns as they form and being ready to trade them.
Yesterday we had a double top bang on WR1 resistance.
Anyone who DOESN'T use pivots is a fool as far as I'm concerned as pivots are THE ONLY indicator that is set at the start of the week and as these support and resistance levels are frequently where traders will have SELL LIMIT or BUY LIMIT orders and they are also levels where traders will liquidate LONGS and SHORTS then you can prepare for a trade in advance.
The EUR/CHF trade I suggested yesterday did not work out.
I lost around 18 pips - so I'm not concerned because if the price DOES reverse from current levels then its likely to target the gap which would be 100 pips.
So, as we have an M-Top pattern forming at resistance, I have a SELL STOP positioned at .9706 which is just below the WR1 pivot and this is the neckline of the M-Top.
Remember - this pattern has NOT yet completed and will only complete if we see price head south down past .9706 over the next few hours.
EUR/CHF is carving out a twin top - SHORT from .9700EUR/CHF opened with a gap this week and anyone who follows my posts will know that I always trade gaps as they ALWAYS fill.
I'd expected the gap on EUR/CHF to have filled yesterday as price hit WR1 key resistance pivot but EUR/CHF BULLS managed to push the price back to WR1.
One hour ago WR1 was hit and we now habe a double right on WR1.
This is very BEARISH.
I'm SHORT this pair from .9700 with STOP above the high at .9718 and a target of .9628 which will close the gap.
RSI on H1 is declining though it should be noted that the red SELL line on the Andean Oscillator on H1 has yet to move off zero though it has on M30.
MACD has also not yet signalled we a re SHORT so this trade is not a done deal and we cannot rule out EUR/CHF BULLS pushing the price back to the WR1 pivot.
The trade has an 18 pip STOP so there's not much damage done if the price reverses though its highly probable that even if the price does head back north to WR1, its unlikely to make much further progress past this level.
So the next key level is .9695 which will break the 200 EMA on M1 and this will then act as resistance to EUR/CHF BULLS.
EURCHF BULLS ARE EXHAUSTINGThe pair has been in a steady bull run but from last some hours the RSI has been showing the weakness. On this early sign of weakness we may initiate the short trade if the pair breaks the recent low. Thia move shall tilt the confluence in the favor of Bears and shall mark the end of bull run.
Since trend is my friend so i shall join the new trend.
Have a Profitable Trading.
EURCHF - Bullish Inverted Head and ShouldersHi Traders !
On Friday 14 June, The EURCHF reached a support level (0.94967 - 0.95252) and failed to break it !
The price formed an inverted head and shoulders pattern.
Currently, The neckline is broken !
So, I predict a bullish move🚀
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TARGET: 0.96645🎯
EURCHF - BUY
EURO is looking Strong
Sentiment of Traders are long Targets are on the Chat
Wycoff Pattern reasonably reliable
Market Sentiment
Safe Haven Status: While the Swiss Franc is traditionally seen as a safe-haven currency, the Euro can also benefit from risk-on sentiment when investors are seeking higher returns and stability within a larger economic bloc.
Diversification: Investors might diversify their portfolios by investing in the Euro, especially if they see potential for growth in the Eurozone compared to smaller economies like Switzerland and Sweden.
Lets see : )
EURCHF POTENTIAL SHORT OPPORTUNITYHello Everyone!
How are you all?
EurChf is a pair to watch this week, because it is shaping up very nicely for a bearish trend reversal that we can capitalize on.
So, I will be looking for a bearish reversal because of the following reasons:
1. The trend is bearish.
2. The price has approached the value area.
Game Plan:
If the price rejects at that level or sweeps the High, and makes a bearish impulse followed by a 15mins flag with two highs and lows.
Entry : will look for a risk buy entry within the flag or a reduced risk entry on the breakout of the flag.
EUR/CHF SENDS CLEAR BEARISH SIGNALS|SHORT
Hello,Friends!
EUR/CHF pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 9H timeframe the pair is going up. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 0.954 area.
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EURCHF Will Go Down! Short!
Here is our detailed technical review for EURCHF.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 0.962.
Taking into consideration the structure & trend analysis, I believe that the market will reach 0.956 level soon.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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EURCHF to find buyers at previous resistance?EURCHF - 24h expiry
Previous resistance at 0.9595 now becomes support.
Our short term bias remains positive.
Preferred trade is to buy on dips.
Risk/Reward would be poor to call a buy from current levels.
Our outlook is bullish.
We look to Buy at 0.9595 (stop at 0.9569)
Our profit targets will be 0.9660 and 0.9670
Resistance: 0.9625 / 0.9640 / 0.9660
Support: 0.9608 / 0.9595 / 0.9570
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EURCHF Pump and dump in process.The EURCHF pair quickly delivered both of our Sell Targets that we set on our last analysis (May 22, see chart below) with a brutal sell-off that sharply broke even below the 0.618 Fibonacci retracement level:
Since last time we saw striking similarities between the Legs of this 2-year Channel Down, we have to make clear that the 0.618 Fib was where the March 15 2023 Low was formed and then rebounded to the 1.236 Fib only to get rejected again in the expansion process of the Bearish Leg.
As a result, we expect a short-term pump to that level, which we will short and target 0.95500 (middle level of the Channel Down as on May 22 2023).
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EUR/CHF Trade Signal: SellDirection: Sell
Enter Price: 0.95813
Take Profit: 0.95446333
Stop Loss: 0.96064333
Analysis and Justification
Our forecast for the EUR/CHF currency pair is based on sophisticated analysis using the EASY Quantum Ai strategy, which evaluates multiple indicators to generate reliable trading signals:
1. Technical Indicators: The pair has shown a downtrend on various time frames, supported by moving averages and oscillators signaling a bearish momentum.
2. Economic Data: Recent economic reports from the Eurozone show weaker-than-expected growth, raising concerns about the stability of the Euro. Conversely, the Swiss Franc has strengthened due to its safe-haven status amid global uncertainties.
3. Market Sentiment: The sentiment around EUR is bearish, fueled by geopolitical tensions and economic turmoil. Meanwhile, the demand for CHF remains strong as investors seek safer investments during volatile periods.
These factors collectively point towards a bearish outlook for EUR/CHF, making a sell position at the given entry price a strategic choice. Aim for the take profit target while mitigating risk with a stop loss at the specified level.
Trade responsibly and always perform personal due diligence.
Happy trading!