EURCHF on a major support zone / Weekly chart by ThinkingAntsOk
Use this as a guide to develop your view of the chart:
Main items we can see on the Weekly chart:
a)Currently, we are on a significant support zone that has been working since February 2015
b)We will expect a reaction there with similar proportions to the ones that we saw on the past
c)The next target is 1.08261 (we are using the previous rejection as a reference frame + the resistance of the last corrective structure before the impulse)
d)If our Forecast happens. From there we will be developing short and long scenarios depending on the structure that we can see on a lower timeframe such as Daily / 4Hs
e)We will not be trading EURCHF now because of the proximity to this zone. Our main idea is to wait for a formation a develop a setup after.
Main items we can see on the Weekly chart:
a)Currently, we are on a significant support zone that has been working since February 2015
b)We will expect a reaction there with similar proportions to the ones that we saw on the past
c)The next target is 1.08261 (we are using the previous rejection as a reference frame + the resistance of the last corrective structure before the impulse)
d)If our Forecast happens. From there we will be developing short and long scenarios depending on the structure that we can see on a lower timeframe such as Daily / 4Hs
e)We will not be trading EURCHF now because of the proximity to this zone. Our main idea is to wait for a formation a develop a setup after.