Hi Guys,
Here we have the EURCHF on the Weekly Chart. This is a tricky one to call.
There is quite a bit of detail on the chart and below are key points to note:
* Huge Bearish bat completed and broke down to 0.318. The retraced.
* Strong two year downtrend
* Currently reaching a weekly resistance level
* Rejected 0.50 of last down swing
* Daily is showing an downtrend and uptrend - confusing maybe. To me it looks like it will break the downtrend (RSI is prime & reversal candle) and respect the up temporarily.
* 1:2 Risk to Reward
I think it will long for around 80 pips (Enter now for 1:2 Risk to Reward). Hit the 'D' point of the bat and fall for around 200 pips.
Do let me know of any questions.
Thank You!
Victoria
Here we have the EURCHF on the Weekly Chart. This is a tricky one to call.
There is quite a bit of detail on the chart and below are key points to note:
* Huge Bearish bat completed and broke down to 0.318. The retraced.
* Strong two year downtrend
* Currently reaching a weekly resistance level
* Rejected 0.50 of last down swing
* Daily is showing an downtrend and uptrend - confusing maybe. To me it looks like it will break the downtrend (RSI is prime & reversal candle) and respect the up temporarily.
* 1:2 Risk to Reward
I think it will long for around 80 pips (Enter now for 1:2 Risk to Reward). Hit the 'D' point of the bat and fall for around 200 pips.
Do let me know of any questions.
Thank You!
Victoria