Forex Market Ideas

EURCHF Forecast And Technical Analysis

Hi Traders! EURCHF forecast and technical analysis is here. The way I would like to analyze the chart for setups is based on multi-timeframe confirmations because in my POV if we get more evidences on different timeframes for the same direction then it makes the setup much more reliable. If you would like to learn more about the way we trade and the technical analysis we use then check out the Traders Academy Club Spoiler alert – free memberships are available!

EURCHF D1(Daily) Chart Analysis – Bullish Rally, Heiken Ashi Candles

On the daily chart, we have a bullish rally and it looks like this bullish rally is about to continue itself as there are no signs that show this bullish trend is over yet. So until we get any opposite signs my view remains bullish here. We also had a strong resistance zone that had formed which the price has broken above and is currently holding above this zone, we may consider this as evidence of bullish pressure. In addition to this, based on the Heikin Ashi candles we can see that currently, we have strong bullish bodies in upward moving market conditions so it basically reflects a bullish environment. Currently, it looks like a correction is happening and I expect the price to continue higher further after this correction. We may now move down to lower timeframe and see if we can find evidences supporting this bullish view.

 

EURCHF H4(4 Hours) Chart Analysis – Range, Key Support Zone, ADX Indicator

Looking at the H4 chart we could see that the daily correction is happening in the form of a range. This range is formed by the highs and lows reaching parallel support and resistance zones. The price which is moving inside this range reached a key support zone formed by the 61.8%(1.10286), 100%(1.09802) Fibonacci expansion level of the first wave, and the bottom of this range. The price respected this key support zone and bounced higher from this zone. Also the ADX indicator gave a bullish signal at the cross of +DI (green line) versus -DI (red line) and the main signal line (silver line) reads value over 25, we may consider this as evidence of bullish pressure. The price is currently at the top of this range, if we get a valid breakout above the top of this range, we may then consider it as a validation for the bullish view and may expect the price to move higher further.

 

Technical Analysis & Forecast Summary

EURCHF D1(Daily) Chart Analysis 

  • Bullish Rally, Heiken Ashi Candles

EURCHF H4(4 Hours) Chart Analysis 

  • Range, Key Support Zone, ADX Indicator

 

Trading Tips

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.

Also, don’t forget to protect your buy trade using a stop loss and make sure to set a target and keep a proper risk/reward ratio.

You will also find a pretty extensive database of educational materials here in the blog – just use the search or check out the Forex Education section above.

Not sure how to enter a trade? Spot reversals (bounces)? Not sure how to spot breakouts?

I invite you to join us in our live market analysis, on daily basis, and improve your trading with us.

Join Traders Academy Club Now

Also, you can get one of our strategies free of charge. You will find all the details here

 

If you have any further questions, don’t hesitate to drop a comment below!

 

To your success,

Vladimir Ribakov
Certified Financial Technician

Advertisement

Click To Join Our Community Telegram Group

Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.

Recent Posts

🎄✨Wishing You a Prosperous Holiday Season: Christmas & New Year 2025 🎄✨

As we approach the end of another remarkable year, it’s time to take a moment…

1 day ago

Weekly Summary And Review 20th December 2024

Hi Traders! Arvinth here from the Home Trader Club team. The weekly summary and, review of December…

4 days ago

US Stocks Face Headwind From Rising Yields After Fed Signals Fewer Rate Cuts

The rally in U.S. stocks is encountering a fresh hurdle -- a potentially problematic rise…

5 days ago

EURAUD Short Term Forecast And Technical Analysis

Hi Traders! EURAUD short term forecast and technical analysis post is here. We do our…

5 days ago

GBPCHF Short Term Forecast Follow Up and Update

Hi Traders! GBPCHF short term forecast follow-up and update is here. On October 3th, 2024…

6 days ago

AUDJPY Short Term Forecast And Technical Analysis

Hi Traders! AUDJPY short term forecast and technical analysis post is here. We do our…

6 days ago