CURRENCY PAIR IN FOCUS: EURCHF
POSSIBLE ACTION: SHORT
Price has broken a lower low on Weekly, Daily, H1 and H4 charting. Pulling out a fibonacci retracement on the full wave, price has broken down the 38.2 retracement level and looks to head towards the 50 retracement level (which is TP 1).
Should TP 1 be broken we can look for price to cover up the gap at TP 2.
With expectations of QE building up, EUR seems to be under pressure which would help with bringing this pair down. Observe price action before entry or adding positions.
POSSIBLE ACTION: SHORT
Price has broken a lower low on Weekly, Daily, H1 and H4 charting. Pulling out a fibonacci retracement on the full wave, price has broken down the 38.2 retracement level and looks to head towards the 50 retracement level (which is TP 1).
Should TP 1 be broken we can look for price to cover up the gap at TP 2.
With expectations of QE building up, EUR seems to be under pressure which would help with bringing this pair down. Observe price action before entry or adding positions.
