EURCHF 1.06693 - 0.09% LONG IDEA
Diupdate
GOOD DAY TRADERS
> HERE'S A LONG IDEA ON THE EURCHF PAIR, THE EURO HAD A GOOD WEEK IN THIS PASSING WEEK WITH ANNOUNCEMENTS OF A NEW RECOVERY FUND BY THE EUROPEAN COMMISSION.
> SWISS TOOK A HIT IN THE PREVIOUS WEEK THIS ON A COMBINATION OF EARLY RISK SENTIMENT AND WEAK SWISS ECONOMIC UPDATES
> EURCHF IS IN AN UPTREND AS WE SAW THE PAIR BREAKOUT OF THE DESCENDING TRIANGLE THE PAIR JUST BOUNCED AT 50% FIBONACCI RETRACEMENT AT SUPPORT LEVEL 1.06693.
SHOULD WE TRADE ABOVE THIS LEVEL WILL BE LOOKING FOR LONGS IN THE PAIR.
TARGET 1 - 61.8% FIB EXT ( 1.06598)
TARGET 2 - 78.6% FIB EXT ( 1.070790
ENTRY - FOLLOW YOUR ENTRY RULES
RISK MANAGEMENT
PERIOD - DAY TRADE
> HERE'S A LONG IDEA ON THE EURCHF PAIR, THE EURO HAD A GOOD WEEK IN THIS PASSING WEEK WITH ANNOUNCEMENTS OF A NEW RECOVERY FUND BY THE EUROPEAN COMMISSION.
> SWISS TOOK A HIT IN THE PREVIOUS WEEK THIS ON A COMBINATION OF EARLY RISK SENTIMENT AND WEAK SWISS ECONOMIC UPDATES
> EURCHF IS IN AN UPTREND AS WE SAW THE PAIR BREAKOUT OF THE DESCENDING TRIANGLE THE PAIR JUST BOUNCED AT 50% FIBONACCI RETRACEMENT AT SUPPORT LEVEL 1.06693.
SHOULD WE TRADE ABOVE THIS LEVEL WILL BE LOOKING FOR LONGS IN THE PAIR.
TARGET 1 - 61.8% FIB EXT ( 1.06598)
TARGET 2 - 78.6% FIB EXT ( 1.070790
ENTRY - FOLLOW YOUR ENTRY RULES
RISK MANAGEMENT
PERIOD - DAY TRADE
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