EURCHF has had bullish impulse move since mid February rallying the price of the instrument to the upside. Naturally, a market correction is expected after every impulse move.
Unfolding EURCHF reveals that the pair has been trading in a descending channel and has just finished it's 3rd touch on the lower bullish correction flag line and had a bullish close above support.
Probabilities exist that EURCHF will have a continuation movement, but price is expected to rally after having failed to break the support level to the downside. This could be the last leg to the upside, or a beginning of a bullish trend with an uptrend impulse.
Entry: 1.09530 Stops: 1.09230 and Target 1.10230
Trading ideas are subjective. Individual analysis advised.
Unfolding EURCHF reveals that the pair has been trading in a descending channel and has just finished it's 3rd touch on the lower bullish correction flag line and had a bullish close above support.
Probabilities exist that EURCHF will have a continuation movement, but price is expected to rally after having failed to break the support level to the downside. This could be the last leg to the upside, or a beginning of a bullish trend with an uptrend impulse.
Entry: 1.09530 Stops: 1.09230 and Target 1.10230
Trading ideas are subjective. Individual analysis advised.