The EURCHF pair has been following the pattern published 2 months ago and has entered into a medium-term Channel Up, while still trading within a multi-year Channel Down:
Right now the price is near the Higher Lows (bottom) trend-line of the Channel Up, rendering it an automatic buy on low risk towards the 1D MA200 (orange trend-line) and if a candle closes above, then extension to the long-term Lower Highs trend-line (around 1.0600).
If the price breaks below the Channel Up but as long as the 1.00920 Support holds, we should turn neutral until the 1D MA50 (blue trend-line) and the 1D MA200 break. A candle closing below the Support, will more likely restore the long-term Bearish sentiment.
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Right now the price is near the Higher Lows (bottom) trend-line of the Channel Up, rendering it an automatic buy on low risk towards the 1D MA200 (orange trend-line) and if a candle closes above, then extension to the long-term Lower Highs trend-line (around 1.0600).
If the price breaks below the Channel Up but as long as the 1.00920 Support holds, we should turn neutral until the 1D MA50 (blue trend-line) and the 1D MA200 break. A candle closing below the Support, will more likely restore the long-term Bearish sentiment.
--------------------------------------------------------------------------------------------------------
Please like, subscribe and share your ideas and charts with the community!
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👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
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🔥New service: next X100 crypto GEMS!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.