EURCHF in-line for a bearish drive

EURCHF looks set to continue bearish after a third bounce on its bearish trendline. The trade room is taking a short trade on this via a sell stop target at its recent lows. Tthis setup will be invalidated if price manages to break and close above this trendline.



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EURCHF PRICE ACTION: Counter Trend Inside Bar Bar at Support. August 21, 2013

An inside bar when it occurs usually alerts to indecisiveness in the market, so could act both as a trend changer or continuation, depending at what stage of the market it is found. In the EURCHF today, we have an Inside Bar trade Setup, just above Support. Before the formation of the inside bar, price had only been able to pierce the 1.2300 psychological support, closing above it eventually. Today, price has also closed above this level and we also have seen a minor breakout in the lower time frames (Which is where we determine whether an entry could be made or not). This points to bullish expectations for the rest of the week and if the setup pulls off, the 1.2400 Resistance (Supply Zone) may not be able to hold the thrust.

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EURCHF PRICE ACTION: Price fails to break above Resistance: July 5, 2013

 

EURCHF seems confined within a range, as the pairs attempt to break above Resistance, stalled. There is huge possibility for a sell-off from this zone but entry would be sort within the intra-day time frames pending price action Trade Setups. 

EURCHF PRICE ACTION: Closing Price Reversal Setup: June 30, 2013

 

 On June 26th, I discussed the Counter Trend Fakey Setup on the pair which came off quite well, but has now failed to close above the 21ema dynamic resistance, facing a very significant selloff in its attempt, leading to the formation of  a closing price Reversal Setup. This is a bearish signal and could send prices lower.

EURCHF PRICE ACTION: Counter Trend Fakey Setup: June 26, 2013

 

 The EURCHF closed the day higher after the fakey setup from the previous day's trading session. expectations are for price to aim at the resistance zone as indicated on the chart. An ideal entry could be made on the intra-day time frame following a valid retracement and price action setup to go with the bulls.

EURCHF Price Action: Closing Price Reversal Trade Setup, 04/04/2013

 

 This Closing Price Reversal Trade setup (could also be called an outside bar) squeezed in, as price made a failed attempt to break above resistance at about 1.2168. A counter Pin bar had shown up at the close of the previous day's trading which has now failed, since price succeeded in piercing its low. Lower prices are expected in the coming days.

My recommendation: Sell pair cautiously with stops above the outside bar.

EURCHF Price Action: Counter Trend Pin bar Setup, 28/03/2013

The eurchf gave off a counter trend pin bar on its horizontal support, at the close of today's session. It is a very interesting scenario because just 2 days back, I had ran a commentary on the fakey with pin Trade setup on the pair and the Trade Room had gone short based on that setup. We will hold the short position entered earlier and see how traders react to this counter trend Pin bar Setup

My Recommendation: If you are short already, remain short

EURCHF Price Action: Fakey With Pin Trade Setup, 26/03/2013

 

The pair has had a failed attempt at an effective bounce from support at about 1.2168, it was sent back by its inability to break above near term resistance at about 1.2250. A Fakey with Pin Price Action Setup ensures as a result, which could possibly trigger a significant sell-off in the pair.

My Recommendation: Sell on pullback into dynamic resistance with stops above resistance.