[h=3][/h] Overview:
Still hold on to our position - long buying above 1.2.
EUR/CHF: The market continues to show the signs of strength following the break above 1.2000. Therefore, it will turn to a strong support. In such case, a stronger rise should be seen towards 1.2524 resistance for confirmation. Moreover, the trend is still above 50% Fibonacci retracement level, thus it will be a good sign to buy above 1.2 and sell below 1.1850.
Types of Analysis:
• Fundamental analysis: The Swissie is also quoted amid the promise to “buy unlimited Euros in order to support this market".
• Technical analysis: On a daily chart the level of 1.2 coincides with the golden ratio (61.8% of Fibonacci retracement levels) which is indicates a bullish market.
• Sentiment analysis: Psychology level is at 1.2000, one should be patient to keep the trade to an end.
• Money management: Always invest 3% - 7% of the capital (composite) per all trades, always risk (Stop Loss) 1% - 5% of the capital per all trades, and always trade high risk ratio trade at least ½.
[h=3]Forecast (Long Term "Euro-Swissy"):[/h]
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Still hold on to our position - long buying above 1.2.
EUR/CHF: The market continues to show the signs of strength following the break above 1.2000. Therefore, it will turn to a strong support. In such case, a stronger rise should be seen towards 1.2524 resistance for confirmation. Moreover, the trend is still above 50% Fibonacci retracement level, thus it will be a good sign to buy above 1.2 and sell below 1.1850.
Types of Analysis:
• Fundamental analysis: The Swissie is also quoted amid the promise to “buy unlimited Euros in order to support this market".
• Technical analysis: On a daily chart the level of 1.2 coincides with the golden ratio (61.8% of Fibonacci retracement levels) which is indicates a bullish market.
• Sentiment analysis: Psychology level is at 1.2000, one should be patient to keep the trade to an end.
• Money management: Always invest 3% - 7% of the capital (composite) per all trades, always risk (Stop Loss) 1% - 5% of the capital per all trades, and always trade high risk ratio trade at least ½.
[h=3]Forecast (Long Term "Euro-Swissy"):[/h]
- At 1.2 a strong level (Support) will be formed providing a clear signal for Buy-deals with the target seen at the 1.254 level. Stop Loss is to be placed below 1.1850.
If You Like my Analysis, Please Vote for me at the Analyst of year Contest!
If you have any questions or requests, please feel free to contact me: [email protected] .
The material has been provided by Instaforex Company - instaforex.com
