EURCHF My Opinion! BUY!
My dear friends,
My technical analysis for EURCHF is below:
The market is trading on 0.9387 pivot level.
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish
continuation.
Target - 0.9422
Recommended Stop Loss - 0.9369
About Used Indicators:
A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames.
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WISH YOU ALL LUCK
CHFEUR trade ideas
First use if alarms on trendlinesDrawing trend lines on the EUR/CHF I decided for the first time to use alarms as I was rarely present at the right time to place an order. It worked well but it was night time and I waited the morning to place the order … in a way maybe it was safer to wait the completion of a candle.
This is a demo account and a first trade; money management was clearly not respected as I personally limit myself to 1000 usd stop loss on a 100k account. For the TP level it seems a long shot but graphically I think it stands. On the psychological aspect, if it was a real trade would I keep it running? I doubt it, but if anyone has done something similar in real trading, I’d be glad to hear your thoughts.
Hoping to publish better trades in the future
POTENTIAL SHORT TRADE SET UP FOR EURCHFAnalysis: Utilizing chart patterns, highs & lows, and impulses & corrections, the focus is on identifying a continuation corrective structure following a breakout.
Entry: The price approached the previous swing high zone with an ascending structure on the higher time frame (HTF), forming a reversal head-and-shoulders (HS) pattern at the peak of the swing high area. Subsequently, the price broke below the ascending structure, signaling a bearish shift, and formed another bearish continuation-like pattern.
Expectation: A downward move is anticipated, targeting the previous swing low area.
⚠️ Reminder: Conduct your own analysis and implement proper risk management, as forex trading carries no guarantees. This is a high-risk endeavor, and past performance does not predict future outcomes. Trade responsibly!
EURCHF gaining the MOMENTUMHere we see prices were unable to form a lows. We can see bullish engulfing candle , and a proper break of structure that forms an order block which is now activated. Although it is an aggressive entry but can be a great opportunity if aligns with the momentum of pre London opening.
Possible scenario for EURCHF looking at the 1st scenario, we are aiming for an upward trend; for that, the price must break the marked resistance. Overall, the trend is also quite bullish and respects parallel channel quite well. Scenario 2 tells another story in which we are looking for a bearish trend and in the favour of this situation the price has broken the trendline but for further confirmation, it has to break its last HL and then make a proper LH. Right now the big picture indicates a bullish trend.
Bearish reversal?EUR/CHF is rising towards the resistance level which is a pullback resistance that is slightly below the 61.8% Fibonacci retracement and could drop from this level to our take profit.
Entry: 0.9428
Why we like it:
There is a pullback resistance level that is slightly below the 61.8% Fibonacci retracement.
Stop loss: 0.94845
Why we like it:
There is a pullback resistance level.
Take profit: 0.93713
Why we like it:
There is a pullback support level.
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EURCHF: Market Sentiment & Price Action
Remember that we can not, and should not impose our will on the market but rather listen to its whims and make profit by following it. And thus shall be done today on the EURCHF pair which is likely to be pushed up by the bulls so we will buy!
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ShortIf the market price breaks the 0.94280 pivot point and falls below it, there’s a strong possibility of a bearish move, potentially targeting the next support level at 0.92858. A break below the pivot point could signal a shift in momentum, and with the support at 0.92858 acting as the next significant level, the market could find some relief or bounce there.
If you're planning to take a position, it might be wise to monitor for confirmation that the price is indeed rejecting the pivot point level, and then consider shorting toward 0.92858. Always ensure you have a solid risk management strategy in place, especially in case the price reverses before reaching the target.
EURCHF ReversalThe EUR/CHF pair has rallied significantly due to stronger Eurozone CPI data. However, it’s tough to see the pair continuing higher in the near future for several reasons. The European Central Bank (ECB) is likely to implement another round of rate cuts in March, which will weigh on the euro. Additionally, weak economic growth in the Eurozone and the ongoing tariff uncertainties add further downside pressure.
From a technical perspective, there's a clear head-and-shoulders pattern forming at the top of the weekly range, which suggests a potential reversal. Given these factors, it seems prudent to take short positions in anticipation of a pullback.