Hi Traders! EURCHF bullish setup forming at the moment. A detailed analysis of this buy opportunity is as follows:
EURCHF H4 Chart:
On the H4 chart we have a strong resistance zone that has formed, the price which is moving higher has currently broken above this zone and is holding above it. We may now look for pullbacks to happen and then we may start looking for buys with more bullish evidences. On the lower timeframes we may now look for more evidences of bullish pressure in order to join the bulls.
EURCHF H1 Chart:
On the H1 chart we may now expect the price to create one more push lower from the current zone with the price creating bullish hidden divergence, which we may consider as an evidence of bullish pressure. We may then start looking for buys with more 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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