Hi Traders! EURCHF range provides buy opportunity for us. A detailed analysis of this bullish 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 H1 Chart:
On the H1 chart we have a bullish divergence that has formed which we may consider as an evidence of bullish pressure. We may now look for bullish setups in order to start looking for the buys.
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.
I invite you to join me in my live trading rooms, on daily basis, and improve your trading with us.
Also you can get one of my strategies free of charge. You will find all the details here
Regards,
Yordan Kuzmanov
Chief Trader at Traders Academy Club
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