Eurchfshort
EURCHF approaching major resistance, potential drop in price!EURCHF has bounced off its major resistance at 1.1567 (61.8%, Fibonacci extension , horizontal swing high resistance). A strong reaction could occur at this level, pushing price down to the next support level at 1.1483 (76.4% Fibonacci retracement , horizontal swing low support, 100% Fibonacci extension ).
Stochastic (55,5,3) is approaching major resistance at 96% along with a bearish divergence. A corresponding drop in price might occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
EURCHF - Intraday - Possible Double Top ReactionHere is a possible double top occurrence. This immediate resistance was tested Last Feb 21. When price reached this place it started a total sell-off bound to the major support. A further confirmation would somehow boost my confidence in entering this trade if the 4hr candle would close as a Doji.
Should this resistance stir a breakout. Its nearest resistance would be the DR1.
Follow and Subscribe for more updates and trading ideas.
EURCHF approaching major resistance, potential reversal
EURCHF is approaching major resistance at 1.1560 (Fibonacci retracement, horizontal pullback resistance, descending resistance) and a strong reaction could occur at this level to push price down towards 1.1455 support (Fibonacci extension, horizontal swing low support).
Stochastic (55,5,3) is seeing major resistance at 96% where a corresponding reaction could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
EUR/CHF Short Ichimoku Trade IdeaThis pair found its bearish legs again last week and I am looking for that trend to continue. I am watching to enter a sell off a tenken sen rejection. If that happens I'll enter m my sell with a stop loss just above kijun sen. If our bearish confirmations change to bullish, this trade may be invalidated.