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analysis for today 10 / 14 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle EURCHF on the date 10 / 13 / 2014
OPEN 1.2086
HIGH 1.2091
LOW 1.2074
CLOSED 1.2086
The third resistance (R3) 1.2091 -( 1.2084 - 1.2074 = 0.0010 x 2 = 0.0019 )= 1.2110
The second Resistance (R2) 1.2084 + 1.2091 - 1.2074 = 1.2101
First resistance (R1) 1.2084 x 2 = 2.4167 - 1.2074 = 1.2093
pivot points 1.2091 + 1.2074 + 1.2086 = 3.6251 / 3 = 1.2084
Support for the first (S1) 1.2084 x 2 = 2.4167 - 1.2091 = 1.2076
Support second (S2) 1.2084 -( 1.2091 - 1.2074 = 0.0017 ) = 1.2067
Third Support (S3) 1.2074 -( 1.2091 - 1.2084 = 0.0007 x 2 = 0.0015 )= 1.2059
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According to the Henkin Ashi you can see it showing a buy signal by having up arrow and a blue candles on the EURCHF Also you can monitor a blue bar on the trend session indicator whith increase the chance to face up trend on the short term By the way we have a buy cross at Snake and T3-Clean indicators which can be a good signal for buying the pair By collecting all of this together I can bet on raising up till the resistance located at 1.2095 where you can consider it as a good area for claiming any buy positions profit![]()
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A bearish trend is now in action as you can see the red arrow shown on the hourly EURCHF chart at the current time which is supported with a top located at 1.2125 which can be also used as a very strong resistance that the price shouldnt go above it if the bearish trend still strong.
Also the parabolic sar dots is showing below the candles which is a sign that the price is heading up for a while.
when selling trades take a place I think then the support 1.208 can be a good area in order to close some open positions as the price has a good chance to go north after hitting it.
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As you can see on the chart of EURCHF the prices is now upper than the EMA line of 15 which could be used as a good sign of bullish trend for today.
Also the power line indicator is now below the 50 level which indicates a good downward direction signal.
One important thing else is the power momentum indicator which as you can see show a high power of the bullish trend which can be used to filter the entry of buy positions.
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According to the chart of EURCHF there are a main up trend signal as the 2 EMA 5 and 6 moving Above the slow EMA of 35 then I guess I will take a buy positions once the other indicators confirm the bullish direction.
There are a dots below the candles for parabolic sar indicator to indicate a upward direction and also I can monitor a sell signal on the MACD indicator which moving below the level 0 for now beside the CCI line is at the Higher level to perform a upward signal.
As I said before according to the EMA locations buying is my favorite side for today as long as the price didnt show any opposite bearish signals.
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A week bullish trend take a place on the hourly chart of the EURCHF as the Blade oscillator is now at 0.0004 area above the level of balance and at the same time the indicator is red colored which is a week indication of bullish direction on the short term. On the chart itself you can see the moving average 5 sloping UP and then you can consider the last bottom drawn by it at 1.2083 as a good stop loss if you need it in case of buy orders which is very advised according to the indicators signals.![]()
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When trying to analyze the EURCHF I can draw a bearish channel as you can see to narrow the market movement area between 2 trend lines Using the donchain channel you can see the price moving at the up edge of it then I can think about selling the price as long as no opposute signs appears on awesome oscillator Currently the awesome oscillator has a green bars which appears above the level of 0 which can be considered as a good buy signal Same on the stostatic indicator which show a buy signal by getting an up intersection between two lines near the 80 th level Till now bearish trend seems to be a stronger choise and by the way selling the pair targeting the low level of donchain channel is not bad idea![]()
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A clear cross is occurs on the momentum indicator on the EURCHF chart as the blue line goes above the red one to perform a good buying signals for the current time By the way the blue color is shown on the Oracle Strength indicator and then it can be considered as a upward direction signal for the EURCHF To add strength to the direction the Oracle direction indicator should be useful and by a quick look you can see the blue color on the arrows to perform a upward signal on the short term Now according to these data I think a upward trend should be in action as long as the momentum buy cross still on the chart and a buy trades can be taken as long as the ATR indicator keep showing a buying signals.
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pair- eur/chf
analysis time frame- m30
the price is moving in the down trend along the resistance trend line. the rsi is also moving near to 30 level. if this is break resistance at 1.2090 then up movement can expected and make long entry with profit target at 1.2115 and stop loss at 1.2060
good luck
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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