$EURCHF Analysis (Re-Buy Above 1.2055)
Sunday, January 6, 2013
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The market is still showing signs of strength following the break above 1.2000, now it could rebuy Above the spot of 1.2055. Therefore, it will turn to a strong support. In this case, a stronger rise should be seen towards 1.2270 and 1.2330 resistances for confirmation. Moreover, the trend is still above the level of 1.2000, thus it will be a good sign to buy above 1.2 (rebuy Above 1.2055).
Keep In Mind these Notes :
- Fundamental analysis : the Swissie is also quoted amid the promise to “buy unlimited euro” in order to support the market.
- Technical analysis : on a daily chart the level of 1.2 coincides with the golden ratio (61.8% of Fibonacci retracement levels) indicating a bullish market.
- Sentiment analysis : psychological level is at 1.2000, in this case one should be patient to keep the trade till the end.
- Money management : always invest 3% - 7% of the capital (composite) per all trades, always risk (stop loss) 1% - 5% of the capital per all trades, and always trade high risk ratio - trade at least 1/2.
- Period : Med-term to long-term.
- Stop loss must be set at 1.1945 and your Targets above 1.2270 .
See The Chart Below .
The market is still showing signs of strength following the break above 1.2000, now it could rebuy Above the spot of 1.2055. Therefore, it will turn to a strong support. In this case, a stronger rise should be seen towards 1.2270 and 1.2330 resistances for confirmation. Moreover, the trend is still above the level of 1.2000, thus it will be a good sign to buy above 1.2 (rebuy Above 1.2055).
Keep In Mind these Notes :
- Fundamental analysis : the Swissie is also quoted amid the promise to “buy unlimited euro” in order to support the market.
- Technical analysis : on a daily chart the level of 1.2 coincides with the golden ratio (61.8% of Fibonacci retracement levels) indicating a bullish market.
- Sentiment analysis : psychological level is at 1.2000, in this case one should be patient to keep the trade till the end.
- Money management : always invest 3% - 7% of the capital (composite) per all trades, always risk (stop loss) 1% - 5% of the capital per all trades, and always trade high risk ratio - trade at least 1/2.
- Period : Med-term to long-term.
- Stop loss must be set at 1.1945 and your Targets above 1.2270 .
See The Chart Below .
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