Take a short position on EURCHF 4HPrice has reached to it's highest point inside the channel and temporarily bearish movement is likely to be happen within channel.
Eurchf4h
Long EURCHF Longterm based on 4H - 1M ChartsWe can see the EURCHF is nearing a major support level and if we look at the 1W + 1M charts, we can see sellers are slowly diminishing and momentum is changing in favour of buyers, however we may see this manage a leg lower before price can move up. A conservative entry would be to wait for a break of the downtrend line, whilst staying above the uptrend line and closing above it.
I have set a wide stop on this, however, my personal approach will be more aggressive with a tighter stop loss and my first target will the resistance level marked out.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
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