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Eurchfshort

EURCHF approaching resistance, potential drop! EURCHF is approaching our first resistance at 1.1530 (horizontal overlap resistance, 23.6% Fibonacci retracement) which coincides with our short term descending resistance line. A strong reaction might occur below this level pushing price down to our major support at 1.1367 (horizontal swing low support). RSI (55) is also approaching resistance where a reaction off this level might be a good precursor for a potential drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
EUR/CHF reexamining January 15th, 2015 nightmare price levelDo you remember where you were on January 15th, 2015? If you were a leveraged EURCHF trader then you certainly do -- it was on that date that the Swiss National Bank removed the 1.20 price peg from the currency pair. Unless you simply like to hit on 18 in blackjack, or you had inside information regarding the SNB's sudden decision to abandon the price control, then chances are you were probably long this pair. Every time prices fell to 1.20, the SNB would step in and bid them back up; the rising tides would lift everyone's boat, and downside risk was foregone under the promise that the central bank would keep prices artificially inflated. The problem was, however, that during this period of low volatility and synthetic price control that the real interest rate continued downward while the nominal rate remained the same, hiding any evidence of the bubble-like exchange rate differential. Once the floor fell out from beneath the pair, prices adjusted downward (and hard, I should mention) as a corrective measure. Lackluster growth data out of the EU, as well as Mario Draghi's own comments affirming such a notion that the EU has reached "peak growth" primes the pair up for weakness on the EUR side while CHF's oversold condition across the board (supposedly as a result of Russian outflows in response to recent sanctions against the country) looks attractive to new capital flows that represent a) a return to a relatively safe fiat alternative and b) an opportunity to hedge risk by selling the euro's peak for the franc's bottom. Now that price has climbed back up to the 1.20 handle for the first time since the crash, one can anticipate some modest resistance at such a critical level. The question I have is whether that resistance will be able to push price action back down to the 200-day moving average (TP #1), the prevailing trendline support (TP #2), or the lower-bound intermediate support (TP #3)? Risk exposure on this trade idea is minimal, as a move above and beyond the 1.20 handle effectively negates the above hypothesis. At the very least I expect price to leap above the 1.20 handle, albeit shortly, as I can only assume there is a lattice of stop-loss orders ready to be tripped. If a pin bar forms on the daily chart at this level, it should be interpreted as a pointedly bearish signal.
Short
by MattSzwyd
1
EUR/CHF short opportunity Technical Analysis: Bias Bearish - The pair has broken below 110-EMA at 1.1741 - Momentum studies bearish, Stochs in oversold territory - MACD supports bias lower - -ve DMI dominance, ADX at 44 and rising - price action has dipped into daily cloud Support levels - 1.17, 1.1678 (23.6% Fib), 1.1643 (200-DMA) Resistance levels - 1.1741 (110-EMA), 1.1788 (5-DMA), 1.18 Good to stay short on rallies around 1.1730/40, SL: 1.1790, TP: 1.1680/ 1.1645/ 1.16
Short
by FxWirePro
EURCHF Approaching Resistance, Prepare For A DropEURCHF is approaching resistance where we can expect a strong drop. Sell below 1.1653. Stop loss 1.1685. Take profit at 1.1583. Reason for the trading strategy (technically): EURCHF is approaching its resistance at 1.1653 (horizontal pullback resistance, 23.6%, 38.2% Fibonacci retracement) and we expect price to drop to its major support at 1.1583 (horizontal swing low support, 76.4% Fibonacci retracement) which coincides with the long term ascending support line. RSI (34) is also approaching its resistance, and Ichimoku cloud is also showing signs of bearish pressure, in line with our bearish bias.
Short
by theforexarmy
EURCHF approaching resistance, potential drop! EURCHF broke out of our short term ascending support line and is approaching our first resistance at 1.1941 (horizontal overlap resistance, 100% Fibonacci extension, 23.6% Fibonacci retracement). A strong reaction might occur below this level, pushing price down to our major support at 1.1867 (horizontal swing low support, 100% Fibonacci extension). A breakout below our intermediate support at 1.1923 (Horizontal overlap support, 50% Fibonacci retracement) might provide the bearish acceleration to our major support level. Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias. RSI (89) is also seeing a bearish exit and we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
EURCHF approaching resistance, potential drop!EURCHF is approaching our first resistance at 1.1955 (horizontal swing high resistance, 78.6% Fibonacci retracement) which coincides with our short term descending resistance line. A strong reaction might occur below this level, pushing price down to our major support at 1.1898 (horizontal overlap support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension). Stochastic (55,5,3) is also approaching our major resistance and we might see a potential drop in price should it react off that level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
EURCHF approaching support, potential bounce! EURCHF is approaching our first support at 1.1950 (horizontal swing low support, short term ascending support line). A strong bounce might occur above this level, pushing price up to our major resistance at 1.1979 (horizontal swing high resistance, 61.8% Fibonacci extension, 76.4% Fibonacci retracement). Stochastic is also approaching our major resistance and we might see a corresponding rise in price should it bounce off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
EURCHF approaching support, watch for breakout! EURCHF is testing our short term ascending support line and facing bearish pressure from our short term descending resistance line. A breakout below our ascending support line and our first support at 1.1937 (horizontal swing low support, 23.6% Fibonacci retracement) might provide the bearish acceleration to our major support at 1.1889 (horizontal swing pullback support, 50% Fibonacci retracement). Stochastic (55,5,3) is also approaching our major resistance where we might see a corresponding drop in price should it react off that level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
EURCHF approaching resistance, potential drop! EURCHF is approaching our first resistance at 1.1955 (horizontal pullback resistance, 38.2% Fibonacci retracement). A strong reaction might occur below this level, pushing price down to our major support at 1.1925 (horizontal swing low support, 38.2% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure, in line with our bearish bias. RSI (89) is also approaching our major resistance and a reaction off this level might be a good precursor for a potential drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by easyMarkets
1
EURCHF; 5-Wave Elliott Wave Structure and the Magical 1.2 LevelAll is clear. On 15.1.2015, the notorious Swiss National Bank (SNB), abandoned the its 4 year tradition of defending the 1.2 level and caused a chaos in FX markets with great consequences. Now and after more than 3 years, the bulls have propelled prices up to this magical level and the Elliott Wave structure also calls for ending of a prolonged move. Also note that according to CFTC, speculators are extremely bullish on EURO and extremely bearish on Frank. Thus I expect lower prices ahead. Good luck, Ali Sharifazadeh, CFTe
Short
by SharifAzadeh
1