After EURCHF’s previous aggressive corrective down wave ended last June 20, a strong upward reversal followed, sending the price above the 0.97 level.

As a result, my June 18’s long trade plan has exited in profit after holding for 14 days and 14 hours:

https://www.finlogix.com/analysis/20240618/eurchf-intraday-analysis-and-trading-plan-for-june-18-2024

Ending my 4 straight losses, now a 1-4 win-loss overall record.

There are no further high impact economic reports in Europe while 1 to be released in Switzerland on Thursday.

Re-assessing EURCHF’s high timeframe candles:

Yearly Candle: Last check is a Green Long Upper Shadow now a Green Body with a Longer Head Wick

Monthly Candle: Previous close is a Red Long-Legged Spinning Top current is a Red Spinning Top

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

Daily Candle: Previous close is a Red Spinning Top current is a Red Body with a Longer Tail Wick

In today’s analysis, I’ll be referencing May 27 swing high to June 19 swing low moves as a complete down trend ending.

A final backtest on June 20 has signaled the EURCHF to go up once again.

Current price is hovering above the 50% fib retracement level after intraday’s swing high and I expect that the premium arrays will be targeted soon as long as the newly found support levels hold.

With the successful reclaiming of the 0.97 level, EURCHF can go range again similar to what it did last June 4-7 given the idea that the cross pair’s bulls get exhausted already facing the next 61.80% fib level as resistance.

I don’t see that EURCHF goes lower in July even though its price is still trading in June’s tail wick territory.

I would like to open a new long position in the 0.97 level with a stop loss set at 0.9650 and a take profit aimed at 0.9830.

It is still viable to open a buy position in the current fib level.

Note: Finlogix pricing is set from the ACY Securities price feed, with liquidity being sourced by top tier banks via ACY Connect.

Good to see that the EURCHF is enjoying a new up wave!

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

EURCHF Intraday Analysis and Trading Plan For July 3, 2024

Jul 03 2024

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