Indicator Signal
- RSI Buy
- MACD Buy
- MA(200) Neutral
- Fractals Buy
- Parabolic SAR Buy
- Bollinger Bands Neutral
Chart Analysis
On the daily time-frame, EURCHF: D1 went up from the downward channel. It is trying to head upward from its minimum since July 2015. A number of technical analysis indicators formed signals for a further upsurge. We wouldn’t exclude a bullish trend if EURCHF rises above its last high: 1.068. This level can be used as an entry point. The stop loss is possible below the lower Bollinger line and Parabolic signal: 1,055. After the opening of the pending order, we move the stop loss after the signals of Bollinger and Parabolic to the next fractal minimum. So, we change the potential profit / loss ratio in our favor. After the transaction, more risk-averse traders can switch to a four-hour chart and set a stop loss, moving it in the direction of trend. If the price overcomes the stop level (1,055) without activating the order (1,068), it is recommended to close the position: there are internal changes in the market that weren’t taken into consideration.
Fundamental Analysis
Investors expect a relatively low reduction in ECB rates, which helps strengthen the euro. Will EURCHF quotes rise?