EURCHF’s current corrective down wave is not yet done! Keep an eye for a potential new lower swing move.

After holding for 6 days and 14 hours, my April 19 long trade call has triggered its stop loss level:

https://www.finlogix.com/analysis/20240419/eurchf-intraday-analysis-and-trading-plan-for-april-19-2024

A 3 straight loss with a zeron win overall record.

There is no further high impact economic report for both Europe and Switzerland this mid 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: Previous close is a Red Semi Doji current is a Red Body with a Slightly Longer Tail Wick

Weekly Candle: Previous close is a Red Body with a Longer Head Wick current is a Red Hammer

Daily Candle: Previous close is a Red Long Lower Shadow current is a Green Long Lower Shadow

After attaining its peak in May, the EURCHF cross pair has reversed its trading direction downwards and was successful in seeking all the sell side liquidity levels except the remaining and still standing April 18-19 scam wick.

On the daily, the pair looks ready for a rebound upward but with an incoming 4H bear cross, I’m still speculating for more bearish pressures targeting that scam wick.

The swing low move from the scam wick till May’s peak can be our retracement levels point of view and current price is already hovering in a very discounted 78.60% which can be a good buy zone already.

With a 4H bearish indicated above, I like to open a long position at the current 78.60% fib level with a take profit target towards the respective 50% level while putting a stop loss just a little below the April 18-19 scam wick’s low.

With a small 1.38 RRR only, I need this trade to be a winner to end my 3 loss streak.

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 June 12, 2024

Jun 12 2024

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