• Add

EUR/CHF: The breakout level drives the price downside


EUR/CHF produced a bearish candle on the daily chart. Today’s H1 chart shows that the price made a breakout at yesterday’s lowest low. As of writing, the price has been bearish in the last H1 candle, which may end up being a bearish reversal candle forming right at the breakout level. The sellers may go short below today’s lowest low upon getting an H1 bearish reversal candle.

Chart 1 EUR/CHF H1 Chart

The chart shows that the price produced a double top in the H1 chart and one of the candles breached through the level of 1.06840. The next candle came out as a bullish inside bar. The last candle has been bearish so far getting a rejection at 1.06840. If the candle comes out as a bearish reversal candle, the sellers may trigger a short entry below the level of 1.06600.

Trade Summary:

Entry: Sell below 1.06600

Stop Loss: Above 1.06840

Take Profit 1: 0.06450

Take Profit 2: 0.06370

Take Profit 3: 0.6215

EagleFX Review

!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}