EURCHF: The price STARTED a new ASCENDING CHANNEL
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🟢Forex Pair:
EUR/CHF
⚪Technical Analysis:
Since the end of December 2020, the price has been following a strong descending channel, breaking it on the 1st of February 2021.
The price re-tested few times the S/R zone at about 1.08000 before moving up, creating a higher high, then it quickly collapsed down until the same previous level.
Since the 28th of January 2021, I can see the price creating a new ascending channel and it is currently moving on its dynamic support line.
🔴Conclusion:
That could be the beginning of a new trend if the price will properly pullback on the current level.
Considering that the price is also oversold in this specific level, I'm confident to see an interesting new bullish impulse until the next resistance zone at about 1.08660.
I'll be waiting for the next h4 candlestick before planning my long trade on this position.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
EUR/CHF
⚪Technical Analysis:
Since the end of December 2020, the price has been following a strong descending channel, breaking it on the 1st of February 2021.
The price re-tested few times the S/R zone at about 1.08000 before moving up, creating a higher high, then it quickly collapsed down until the same previous level.
Since the 28th of January 2021, I can see the price creating a new ascending channel and it is currently moving on its dynamic support line.
🔴Conclusion:
That could be the beginning of a new trend if the price will properly pullback on the current level.
Considering that the price is also oversold in this specific level, I'm confident to see an interesting new bullish impulse until the next resistance zone at about 1.08660.
I'll be waiting for the next h4 candlestick before planning my long trade on this position.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
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