Friday’s volatility has swiftly sent EURCHF to new lows but bulls retaliate sending the price back above the crucial 0.96 range.

I have minimized another loss from yesterday’s long call:

https://www.finlogix.com/analysis/20240418/eurchf-intraday-analysis-and-trading-plan-for-april-18-2024

There is no major economic report for both Europe and Switzerland to finish the trading week.

Re-assessing EURCHF’s high timeframe candles:

Yearly Candle: Still a Green Body with a Longer Head Wick since last check

Monthly Candle: Last check is a Red Long Upper Shadow with a Small Body now a Red Long-Legged Spinning Top

Weekly Candle: Last check is a Green Spinning Top now a Red Long-Legged Semi Doji

Daily Candle: Previous close is a Red Hammer with a Long Tail Wick current is a Red Long Lower Shadow with a Long Tail Wick

Even with the EURCHF’s latest swing low, I maintain my bullish bias for this cross pair.

Based on this move, a corrective down wave could have ended as well.

It’s good to see that the Euro bulls are responding quickly and aggressively by pushing the price back at the 0.9850 to 0.9660 retracement range I’ve mentioned in yesterday’s analysis.

When I said to keep an eye on the consolidation area yesterday, the PoD has prevailed for the bears but a strong buybacking power through a long tail wick’s presence earlier have somehow opened new EURCHF buy positions.

To maintain a bullish narrative, the retracement range should be held next week.

By completely sweeping the sell side liquidity residing below the mid-week’s swing low, multiple discount array orders have been hit.

The intraday candle looks strong as well therefore I’m going to set new long orders here:

My long term analysis is still parity. I will keep opening long positions for the EURCHF till then.

All trade ideas I share are my own views and for my own trades only.

Copy trading and trading directly involve risks.

EURCHF Intraday Analysis and Trading Plan For April 19, 2024

Apr 19 2024

Stop Loss -0.41%

Holding time 6d14hr

0.96646

Entry price

0.96249

Stop loss price

1