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EURCHF has been in consolidation since last week after a strong weekly bullish pinbar last 2 weeks. The bias is neutral until we see a break of 1.1474 on the up side targeting 1.1630, or a break of 1.1270 on the down side targeting 1.1220 and 1.1130 in the near - medium term.
the chart is showing that the pair has closed it's daily daily under the level of 1.1500 , and that's mean that the down trend is still standing and the pair might reach 1.1440 and then 1.1400
The 1.15 level is a massive resistance area, and it seems that the pair simply cannot break it. If it ever does – this would be a massive buy signal
The 1.15 level certainly is resistance, but if we can break above it – we will run to 1.18 or so. If we can get a larger red candle, we go to 1.10 and eventually parity. Until we get one of these signals, we are sitting tight.
If a M15 close above 1.1500 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1.1450 sell only and do not buy. If price closes back above it again do nothing
The range 1.1500 and 1.1450 is neutral area, any trade done in between is personal decision and not part of this analysis
as it shown for the 4 hr chart the pair still trying to go upward and trading so far over ema50 line. should test and close over the resistant level at 1.1500 to confirm more up ward as it is forming the rising wedges as i think
look for an acceleration of gains back towards the 1.2000 area over the coming days with setbacks expected to be well supported above 1.0800 on a daily close basis.
It is more likely to go down to around 1.1500 or lower, and after that, it might have potentially to go up to around 1.1800 AND 1.2000
If a M15 close above 1.1500 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1.1250 sell only and do not buy. If price closes back above it again do nothing
The range 1.1500 and 1.1250 is neutral area, any trade done in between is personal decision and not part of this analysis
Silver convincingly broke below daily support at 41.76, I think it is time to load more short and go have a nap. But note that there is good support at 40.88/61 area. . . a break of that support will trigger full throttle 39.50 area.