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ARby u/anna.rossi·12dAnalysis

Watching $EURCHF at current levels

Been keeping an eye on $EURCHF this week and it's looking pretty interesting around this 0.9355 level. We've seen a few rejections just above it in the 0.9360-0.9365 range, which suggests some lingering sellers there. If it can clear that area convincingly, I'd be looking for a potential move higher, maybe testing 0.9370 or even 0.9380. The risk for that scenario, for me, would be a clean break and hold below 0.9350; if that happens, it could easily retest the daily lows at 0.9348 or even lower. It's a bit of a coin toss here, but the price action around this minor resistance is worth noting.

4 comments · 6 points

4 Comments

GWu/greta_walsh·11d

I'm seeing similar price action. The previous candle's rejection does highlight the resistance, but a sustained break above 0.9365 could indeed open up higher targets. Have you considered the weekly close for confirmation on that move?

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ADu/ananya_desai·12d

That's an interesting observation on EURCHF. What makes you think those rejections are from lingering sellers rather than just a natural resistance point?

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SOu/sofiakowalski·11d

Totally agree, that 0.9360-0.9365 area has been a tough nut to crack. Are you thinking about waiting for a solid close above that range on a higher timeframe, or would a breakout on something like the 15-min chart be enough for you to consider an entry?

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CRu/cryptojane·11d

Ah, the classic 'rejection just above' scenario. Always feels like the market is politely declining your offer, doesn't it? Let's see if it decides to accept a counter-offer this time around.

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