Interesting set up occuring on EURCHF.
I am always long bias the CHF currency, because their economy is very stable and their politics is great (no problems with any country whatsoever, interest rates and inflation in order). Its a very safe asset and all currencies seem to depreciate against the CHF. Im having a lot of trouble going long AGAINST the CHF, in this case EURCHF.
Monthly chart: Double bottom + Bullish Pinbar
Weekly chart:
Here is what I would need to happen; I would need to see the resistance being broken to the upside on the Weekly chart to consider buying on a retracement. For now, the double bottom and bullish PB on the Monthly isnt enough for me to go against such a strong currency.
I am always long bias the CHF currency, because their economy is very stable and their politics is great (no problems with any country whatsoever, interest rates and inflation in order). Its a very safe asset and all currencies seem to depreciate against the CHF. Im having a lot of trouble going long AGAINST the CHF, in this case EURCHF.
Monthly chart: Double bottom + Bullish Pinbar
Weekly chart:
Here is what I would need to happen; I would need to see the resistance being broken to the upside on the Weekly chart to consider buying on a retracement. For now, the double bottom and bullish PB on the Monthly isnt enough for me to go against such a strong currency.
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