EURCHF: How to Trade at Support Zone
The price reached the support zone formed by SMA100 and 1.06000 support level. The price action in this zone will be able to give us trade opportunities for buyers and sellers during the next week.
I would like to think about buying as the price reversal, bullish signals from MACD and RSI support this direction much better than selling.
If the price breaks the local downtrend line, it will be another bullish signal, and it will give the exact entry points for long positions in the daily and hourly timeframes.
The breakout below the support will open the road to the next support at 1.05000 level. But for shorting, I would like to wait for a retest of a new resistance at 1.06000 level and bearish signals from RSI and MACD histogram.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
I would like to think about buying as the price reversal, bullish signals from MACD and RSI support this direction much better than selling.
If the price breaks the local downtrend line, it will be another bullish signal, and it will give the exact entry points for long positions in the daily and hourly timeframes.
The breakout below the support will open the road to the next support at 1.05000 level. But for shorting, I would like to wait for a retest of a new resistance at 1.06000 level and bearish signals from RSI and MACD histogram.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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