EURCHF | Perspective for the new week
I see everywhere possibilities that the EURCHF will continue to march higher in the coming week(s) as Buyers continue to hold strong at Demand level @ Fr1.07100/1.07400.
Tendency: Downtrend ( Bearish )
Structure: Channel | Trendline | Supply & Demand
Observation: i. The Descending channel guides price to Fr1.07400 followed by a sharp rejection of the Demand zone to see price action float above Key level @ Fr1.07600
ii. It is worthy to note here that the meeting of Descending channel and Bullish Trendline(day chart) at the Demand zone is a strong confluence for Buying opportunity at this juncture in the market.
iii. A significant Breakdown of CA$1.07100 shall consider this bias invalid.
Trading plan: BUY confirmation with a minimum potential profit of 150 pips.
Risk/Reward: 1:4
Potential Duration: 7 to 15 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Tendency: Downtrend ( Bearish )
Structure: Channel | Trendline | Supply & Demand
Observation: i. The Descending channel guides price to Fr1.07400 followed by a sharp rejection of the Demand zone to see price action float above Key level @ Fr1.07600
ii. It is worthy to note here that the meeting of Descending channel and Bullish Trendline(day chart) at the Demand zone is a strong confluence for Buying opportunity at this juncture in the market.
iii. A significant Breakdown of CA$1.07100 shall consider this bias invalid.
Trading plan: BUY confirmation with a minimum potential profit of 150 pips.
Risk/Reward: 1:4
Potential Duration: 7 to 15 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade smart. Trade consciously
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