Hi Traders! EURCHF range provides bullish opportunity for us. A detailed analysis of this buy setup is as follows:
EURCHF D1 Chart:
On the daily chart the price is moving inside a range, the price which is respecting the support and resistance zones so far is currently nearing the bottom of this range. If we didn’t get a valid breakout below the bottom of the range, we may then expect the price to respect it and move higher again. We may now look for evidences of bullish pressure on lower timeframes in order to join the bulls.
EURCHF H4 Chart:
On the H4 chart we have a critical zone that has formed based on the fibo levels of the cycles. We may now expect one more push lower from the current zone towards this critical zone, we may then look for more bullish evidences in order to join the bulls. We also have potential bullish divergence that is forming at the moment.
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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Yours to your success