EURCHF LONG IDEA
Higher time-frame analysis shows the EURCHF has been majorly bearish but is quite over extended.
On the daily timeframe we have seen a bit of a bullish trend and we expect price action to reach the daily 38.2% fib level at least
If the 38.2% is broken we’re going to continue with this daily trend and target the monthly resistance, broken structure & 50% fib level around 1.11500 which is about 120+ pips from current price action
If we see significant rejection from the 38.2% fib level with strong bearish setups we could see price action push toward the bottom of the current range around 1.08500
Higher time-frame analysis shows the EURCHF has been majorly bearish but is quite over extended.
On the daily timeframe we have seen a bit of a bullish trend and we expect price action to reach the daily 38.2% fib level at least
If the 38.2% is broken we’re going to continue with this daily trend and target the monthly resistance, broken structure & 50% fib level around 1.11500 which is about 120+ pips from current price action
If we see significant rejection from the 38.2% fib level with strong bearish setups we could see price action push toward the bottom of the current range around 1.08500