EURCHF – Trading Scenarios, still looking for short opportunities
We’ve been talking about CHF crosses a lot, but hey, if they are giving us opportunities, why not taking advantage of them? Which is exactly our job as Forex traders, find the currency pairs that have the clearest market condition, it doesn’t matter if the market has already moved 1000 pips:
- if it is bearish, look for short opportunities
- if it is bullish, look for long opportunities
- if you have no idea of what the market will do, stay away from it.
Anyway, I think that as long as the EURCHF keeps trading below the short term resistance level at 1.0446, there is still room for it to reach lower levels:
- If it retraces back to the ST resistance level and forms a significant pattern with downward pressure I’ll go short.
- If it breaks the lowest low (reaches historical lows again) I’ll wait for significant pattern with downward pressure.