Thread: Eur/Chf
EUR/CHF's corrective fall fro 1.2184 is still in progress. While it tried to draw support from 1.2035, it seems that such support is not strong enough. The cross could still spiral lower. Though, we'd definitely expect strong support above 1.2 and bring rebound. meanwhile, break of 1.2089 will turn focus to 1.2142 resistance.
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the duet rised but not reached our aim and rebounded soil the funding layer , so
now : up movements due again strongbox the direction connexion as you see in the represent.
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This can be bulls if then buyer / price can move above that 23.6 fib line (1.2046). So, if we plan to search for Buy = just make sure that candle price on was move above that 23.6 fib line (1.2046)
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Scenario for next week
Elliott: extension wave down 1.1988
Current fall is near an end of wave around 1.2032 zone, a rally should then procede to above 1.2061. Fall below 1.2019 would cancel this scenario.
Technical points
Key point 1.2038
Entry point 1.2044
Elliott 1.2143
Closing 1.2046
Projection 1.2008
Trendline 1.2064
Trendline 1.2048
Supports / Resistances
Res 2 1.2077
Ex-High 1.2064
Res 1 1.2061
Pivot 1.2048
Sup 1 1.2032
Ex-Low 1.2035
Sup 2 1.2019
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ncreasingly clear trend up, green marbles in tf d1 already crossed the line 0.
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EURCHF broke uptrend channel and fall below pivot point@ 1.1613. I expect it will fall to strong support @ 1.1506.
If it falls below Strong support we might expect more downward movement to 1.1403.
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The pair rised but not reached our target and rebounded till the support level , but if you want to be safer to wait for prices to reach the boundaries that I set above.
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Expected trading range for this week between: support at 0.9150 and resistance 0.9575
General tendency is expected for this week: Down
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estimate:
At 1.2 / 1.2033 strong level (support) will form a clear signal to offer a buy with a target seen at 1.2150 levels. Stop loss should be placed below 1.1970.
Overview:
EUR / CHF: The market is still showing signs of strength after the break above 1.2000 could now be bought back at 1.2033. Because turns into a strong support. In such case, stronger rise should be seen towards 1.2270 resistance for confirmation. In addition, the trend is still above 50% Fibonacci retracement level, so it would be a good sign to buy above 1.2 (buy back at 1.2033), and selling below 1.1950.
analysis:
- 1.2 level on the daily chart coincides with the golden ratio (61.8% of Fibonacci retracement levels), then it indicates a bullish market.
- Always invest 3% - 7% of the (composite) per every trade, there is always a risk (stop loss) 1% - 5% of capital per all trades, and always traded high-risk ratio - Trade at least 1/2.
- Period: long term.
- Stop loss should be set at 1.1970.
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eur/chf technical analysis by using : average directional movement index
adx : 35.9094
+di : 19.4347
-di : 4.6929
timeframe : 1 hour
time : 1800
date : 16.11.2012
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