Hi Traders! We have EURCHF short term bullish opportunity forming at the moment before a potential continuation lower. A detailed analysis of my trading plan is as follows:
EURCHF D1 Chart:
On the daily chart we have two divergences that has formed which is followed by the false break of the alternative trend line (blue). Hence we may now look for more evidences of bullish pressure on lower timeframes in order to join the bulls.
EURCHF H4 Chart:
On the H4 chart the price has created a last push down and formed bullish divergence which was followed by higher highs. Hence we have a classical reversal setup of bullish convergence that has formed which we may consider as an evidence of bullish pressure.
EURCHF H1 Chart:
Dropping to the H1 chart I’m expecting one more push lower towards the zone marked on the screenshot below where I’d be looking for bullish setups.
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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