Pair: EUR/CHF
Timeframe: 4H
Platform: OANDA
The EUR/CHF pair has recently broken out of a descending channel, signaling a potential bullish reversal. After a sustained downtrend, price action has formed a strong base and pushed above the upper boundary of the falling wedge/channel, indicating that buying pressure is building.
Key Observations:
Breakout Confirmation: Price has successfully broken out of the descending trendline, suggesting a shift in market sentiment from bearish to bullish.
Bullish Pathways: Two possible bullish trajectories are illustrated:
A direct move toward the 1st target at 0.95000, followed by continuation to the final target at 0.96500.
A retest of the breakout zone before rallying toward the upper targets, offering a more conservative long entry.
Levels to Watch:
Current Price: 0.93700
1st Target: 0.95000
Final Target: 0.96500
Support Zone: 0.92250 – 0.92000
(If price revisits this area, it could offer another buying opportunity or invalidate the bullish scenario on a strong breakdown.)
Conclusion:
This setup presents a solid risk-to-reward opportunity for bullish traders. A clean breakout from a well-defined structure often precedes significant moves. However, traders should monitor for a possible retest and manage risk accordingly.
Let me know in the comments how you're planning to trade this setup.
Timeframe: 4H
Platform: OANDA
The EUR/CHF pair has recently broken out of a descending channel, signaling a potential bullish reversal. After a sustained downtrend, price action has formed a strong base and pushed above the upper boundary of the falling wedge/channel, indicating that buying pressure is building.
Key Observations:
Breakout Confirmation: Price has successfully broken out of the descending trendline, suggesting a shift in market sentiment from bearish to bullish.
Bullish Pathways: Two possible bullish trajectories are illustrated:
A direct move toward the 1st target at 0.95000, followed by continuation to the final target at 0.96500.
A retest of the breakout zone before rallying toward the upper targets, offering a more conservative long entry.
Levels to Watch:
Current Price: 0.93700
1st Target: 0.95000
Final Target: 0.96500
Support Zone: 0.92250 – 0.92000
(If price revisits this area, it could offer another buying opportunity or invalidate the bullish scenario on a strong breakdown.)
Conclusion:
This setup presents a solid risk-to-reward opportunity for bullish traders. A clean breakout from a well-defined structure often precedes significant moves. However, traders should monitor for a possible retest and manage risk accordingly.
Let me know in the comments how you're planning to trade this setup.
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