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Tuesday, December 29, 2020

EURCHF - A or B??

EURCHF - A or B??

What is the outcome for EURCHF?? Although we like to view 2 solid options for this pair, obviously, as traders we know that anything can happen.

Option A:
Will the current price drop and retest the support level of 1.08157 before bouncing off towards in the ceiling in a bullish manner?
Will wee see the price reach the 1.09186 level?

OR

Option B:
Will the price drop through the floor towards a previous floor level of 1.07427?


Currently, we are running two indicators for this currency pair:
Our stochastic indicator has reached the lower percentiles of its range, meaning that the price may have became oversold. If we see the red ands blue lines cross, it may indicate a shift in the opposite direction.
As well as this, our relative strength index is pointing upwards which also points to a rise in price.



Of course as traders we must understand that anything can happen within the forex markets!
(Always be prepared for option C!)

In this case, Option C metaphorically conveys how ANYTHING CAN HAPPEN! As traders our job is to wait and make correct guesses with validated risk analysis.

Happy Trading! Be sure to like this post if you agree with the info above and to give my profile a follow.

Roundhouse.



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