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Eurchflong

ELLIOT WAVE: EURCHF SET TO EXTEND HIGHER IN THE LARGER CYCLEHi Traders, The rally on EURCHF from the major low at 1.11621 took the form of Elliot wave impulse structure, labelled (i)-(v). According to the Elliot Wave theory, a three wave retracement follows every impulse move, in the EURCHF's case, the decline from wave 1/A high unfolded as a three-wave (a)-(b)-(c) zigzag pattern in wave 2/B. . The correction also finds support with a bullish pin bar at a key horizontal support level that lined up with 61.8% Fib of the impulsive move. If the count is correct, a 5-3 wave cycle is completed, and the price can be expected to resumes in the direction of the impulse according to the theory. . What does this mean for the EURCHF? The price is expected to extend higher in a five-wave pattern in wave 3/C. A target above wave 1/A high is plausible in the mid-term. . Do you like this Elliot Wave Analysis? Kindly leave a comment. Thanks for reading! Veejahbee.
Long
by Veejahbee
ELLIOT WAVE: EURCHF SET TO EXTEND HIGHER IN THE LARGER CYCLEHi Traders, The rally on EURCHF from the major low at 1.11621 took the form of Elliot wave impulse structure, labelled (i)-(v). According to the Elliot Wave theory, a three wave retracement follows every impulse move, in the EURCHF's case, the decline from wave 1/A high unfolded as a three-wave (a)-(b)-(c) zigzag pattern in wave 2/B. . The correction also finds support with a bullish pin bar at a key horizontal support level that lined up with 61.8% Fib of the impulsive move. If the count is correct, a 5-3 wave cycle is completed, and the price can be expected to resumes in the direction of the impulse according to the theory. . What does this mean for the EURCHF? The price is expected to extend higher in a five-wave pattern in wave 3/C. A target above wave 1/A high is plausible in the mid-term. . Do you like this Elliot Wave Analysis? Kindly leave a comment. Thanks for reading! Veejahbee.
Long
by Veejahbee
EURCHF TO EXTEND HIGHER IN THE LARGER CYCLEHi Traders, The rally on EURCHF from the major low at 1.11621 took the form of Elliot wave impulse structure, labelled (i)-(v). According to the Elliot Wave theory, a three wave retracement follows every impulse move, in the EURCHF's case, the decline from wave 1/A high unfolded as a three-wave (a)-(b)-(c) zigzag pattern in wave 2/B. . The correction also finds support with a bullish pin bar at a key horizontal support level that lined up with 61.8% Fib of the impulsive move. If the count is correct, a 5-3 wave cycle is completed, and the price can be expected to resumes in the direction of the impulse according to the theory. . What does this mean for the EURCHF? The price is expected to extend higher in a five-wave pattern in wave 3/C. A target above wave 1/A high is plausible in the mid-term. . Do you like this Elliot Wave Analysis? Kindly leave a comment. Thanks for reading! Veejahbee.
Long
by Veejahbee
BULLS ARE REALLY WORKING EURCHF!! A little break maybe?Right, Right , Right! EURCHF Stumbled across some solid support before reversing Bullish. As you can see Bulls have been in control for some days now. Price is approaching a critical resistance zone ( the grey price level price is approaching) where we may potentially see price pullback which may also been seen as 'profit taking' . Price has potential to retrace 50% of the whole bullish move which in classical technical analysis terms we would call an 'inverted head and shoulders' . In Elliot wave terms, we can refer to as an ABC corrective pattern. I have marked the 50% retracement level. Should price pull back to this level, I will be going long with 1% capital risked. Should price move to my stop loss, my edge will be invalidated. Take profit has been calculated at double the length of the retracement (100%)
Long
by Malika_Analysis
EUR/CHF long opportunity- The pair is extending bounce off channel base, extends gains for the 3rd straight session - Price action below cloud and major moving averages, but very short-term averages have turned - RSI and Stochs have rolled over from oversold levels, MACD is on verge of bullish crossover on signal line - Bearish divergence on RSI and Stochs on the hourly charts could see minor downticks Data Released: - Germany February industrial output m/m increased to 0.7 %, beating forecast at 0.5 % and compared to -0.8 % in the previous month. - Focus on the performance of yields in Germany and the spread vs. their American counterparts for direction. Support levels - 1.1207 (5-DMA), 1.1162 (Mar 29 low), 1.1155 (channel base) Resistance levels - 1.1251 (21-EMA), 1.1269 (38.2% Fib), 1.1297 (55-EMA) Currency Forecast: Scope for test of 38.2% Fib. Weakness likely on break below 5-DMA.
Long
by FxWirePro
2
EURCHF approaching resistance, potential drop! EURCHF is approaching our first resistance at 1.1246 (horizontal pullback resistance, 100% Fibonacci extension , 23.6% Fibonacci retracement ) where a strong drop might occur below this level pushing price down to our major support at 1.1168 (horizontal swing low support). Stochastic is also approaching resistance where 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 TradeGATEHub
EURCHF approaching resistance, potential drop! EURCHF is approaching our first resistance at 1.1246 (horizontal pullback resistance, 100% Fibonacci extension, 23.6% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 1.1168 (horizontal swing low support). Stochastic is also approaching resistance where 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 1.1246 (horizontal pullback resistance, 100% Fibonacci extension, 23.6% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 1.1168 (horizontal swing low support). Stochastic is also approaching resistance where 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 easyMarkets