The EURCHF pair has been on a 3 day rise since the September 13, staging it on a Double Bottom pattern. The short-term Resistance is the 1D MA50. This formation resembles the January 2022 pattern both in candle terms and in 1D RSI, which as you see are identical.
The Jan 22 pattern after a fake-out above the 1D MA50 and subsequent rejection to a Double Bottom as well, it started a strong rally to the 0.5 Fibonacci retracement level. As a result, if the price breaks the 1D MA50 again, we'd expect a bullish extension all the way to the 0.5 Fib, which is a little above 1.000. A break below the September 15 Low though can invalidate this pattern and start a strong sell sequence towards the -0.5 Fib extension.
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The Jan 22 pattern after a fake-out above the 1D MA50 and subsequent rejection to a Double Bottom as well, it started a strong rally to the 0.5 Fibonacci retracement level. As a result, if the price breaks the 1D MA50 again, we'd expect a bullish extension all the way to the 0.5 Fib, which is a little above 1.000. A break below the September 15 Low though can invalidate this pattern and start a strong sell sequence towards the -0.5 Fib extension.
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כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.