The EURCHF pair has reached once again an important support level which can be seen on the weekly chart. The support is formed by a confluence of the 61.8% Fib level and a strong horizontal support – the lower levels of the recent range. Shorter-term charts shows a symmetrical triangle pattern which may soon break out to the upside. The pair may retest the upper range levels around 1.14xx if the mentioned support levels show to hold. The RSI on the daily also shows a bullish divergence.
GBPJPY reached the bottom support zone with some small daily bull warning signals. Now, GBPJPY seems have reason to stop the trend. Waiting for feedback from GJ to signal us. To start a new swing up, GBPJPY needs to break the blue line first. The new swing could go to test next resistance zone for 400 pips for patient traders. Forex Signal Service
Quite a very simple trade, Markets are closing today but without a doubt eyes are on this Baby on Market open. When shifted to the H4 Time-frame, an inverse Head and Shoulder is spotted and already has been broken and might be heading to the target price 123.5328 which was measured from the Head to the neckline and so to find out it is equal to the previous resistance level highlighted in Yellow. It is almost impossible for this pair to create a fake out because every confirmation you need on an Inverse Head and Should was a success. If we calculate the ration it is a total of 1:54 which is beyond good for us, so our stop loss can be placed at 121.3406 which is on our Shoulder.
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