Hi Traders! EURCHF bullish opportunity is forming at the moment. A detailed analysis of this buy setup is as follows:
EURCHF H4 Chart:
On the H4 chart the price was moving inside a range, this range was formed by the highs and lows reaching similar resistance and support zones. The price which had broken below the bottom of the range created a false convergence and then the price has now made a false break as well which we may consider as evidences of bullish pressure. Currently the price is trading back inside the H4 chart range again. We may now look for more evidences of bullish pressure on lower timeframes in order to join the bulls.
EURCHF H1 Chart:
On the H1 chart we have a classical reversal setup that has formed which we may consider as an evidence of bullish reversal. As long as the last low around 1.1260 is holding we may look for buys towards the top of the H4 range with bullish evidences.
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.
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