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Eurchftrading

EURCHF: Fierce consolidation prompts to a bullish breakoutEURCHF is neutral on its 1D technical outlook (RSI = 52.253, MACD = 0.000, ADX = 26.091) as it has been consolidating since the April 25th high. Since then it has failed to close a 1D candle above the 1D MA200. Given the strong presence of the S1 Zone, if we get that closing above the 1D MA200, we will turn bullish, aiming for the 0.618 Fibonacci retracement level (TP = 0.94900), like the March 14th high did. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
EURCHF: Hit the 1D MA200. Rejection imminent.EURCHF turned overbought on its 1D technical outlook (RSI = 72.505, MACD = 0.003, ADX = 32.019) as it hit today the 1D MA200 for the first time since July 30th 2024. This test comes only a fraction under the top of the medium term Channel Up, so we are entering a highly probable rejection Zone. Sell and target the bottom of the Channel Up (TP = 0.943500). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
EURCHF: Bottom formed. Aiming now for the 1D MA200.EURCHF is marginally bearish on its 1D technical outlook (RSI = 43.619, MACD = -0.002, ADX = 46.597) as after hitting the bottom of the S1 Zone, it rebounded and is now consolidating below the 1D MA50. This is a bottoming pattern and like the two before it in a span of 1 year, it should aim for at least the 1D MA200 (TP = 0.95500). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
1
EURCHF: Successive rejections on the 1D MA50. Bearish.EURCHF is bearish on its 1D technical outlook (RSI = 42.451, MACD = -0.001, ADX = 26.515) as it's been failing to cross over the 1D MA50 and reverse the trend. Given that the long term pattern is still a Channel Down, this gives a new sell signal with the RSI suggesting we are running a similar below 1D MA50 sequence as August 2023. For the remainder of the year, we are aiming for the bottom of the Channel Down, close to the 1.236 Fibonacci extension (TP = 0.91500). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
EURCHF: Channel Down top. Sell.EURCHF is approaching the top of the multi year Channel Down pattern with 1D on bullish technicals (RSI = 66.643, MACD = 0.006, ADX = 55.830) but with a weekly chart almost overbought. The 1D RSI has already posted its first LL which suggest an underlying Bearish Divergence. We turn bearish on this pair targeting the 0.5 Fibonacci (TP = 0.9600) like the previous corrective wave did. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
EURCHF: Buy opportunity at the bottom of the 1 year Channel DownEURCHF has turned bearish on the 1D time-frame (RSI = 31.608, MACD = -0.007, ADX = 35.082) but reached the bottom of the 1 year Channel Down pattern. Considering that the 1D RSI got oversold last week and rebounded above 30.000 this week, this constitutes a technical buy opportunity. We are aiming for the 1D MA50 (TP = 0.94500). See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
1
EURCHF: Crossed under the 1D MA50. Sell signal activated.EURCHF has closed under the 1D MA50 for the second day in a row, turning the 1D time frame marginally bearish on technicals (RSI = 44.850, MACD = 0.000, ADX = 18.356). That is a clear break out sell signal, so we turn short, targeting the S1 (TP = 0.967250). If the price breaks under the S2, we will short again, aiming at a -3.25% total decline (TP = 0.95250). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope