Hi everyone,
Please see my EUCHF 1H chart analysis attached.
So from looking at the chart price has pushed to the upside and is now retracing back to the downside. With this being the case I have got my fib retracement out to see if I can spot a possible reversal in the market.
Price has pushed down to the .786 Fib and as you can see from the chart and inverted hammer has formed which is a sign of a potential reversal.
On top of this we have the RSI indictor giving us an oversold reading and the stochastic is crossing which shows the momentum could be changing direction.
Stop loss for this would be below the previous low: 1.0735
Any likes and comments would be much appreciated.
DWFX
Please see my EUCHF 1H chart analysis attached.
So from looking at the chart price has pushed to the upside and is now retracing back to the downside. With this being the case I have got my fib retracement out to see if I can spot a possible reversal in the market.
Price has pushed down to the .786 Fib and as you can see from the chart and inverted hammer has formed which is a sign of a potential reversal.
On top of this we have the RSI indictor giving us an oversold reading and the stochastic is crossing which shows the momentum could be changing direction.
Stop loss for this would be below the previous low: 1.0735
Any likes and comments would be much appreciated.
DWFX