Forex Trading Library

EURCHF – Lower lows looks like a descending triangle formation

Trade Ideas
By Ian Coleman
0 284

Monthly: The previous resistance at 1.1199 (February 2016) acted as support. The cross has now consolidated for the last 6 months

Weekly: The mixed and volatile trading looks to have formed a bearish descending triangle pattern. Trend of lower lows is seen at 1.1426. We are close to a Demark exhaustion count. A break of support at 1.1180 and the measured move target is seen at 1.0875

 

Ian Coleman

PIA-First provide award winning trade ideas on financial markets. Ran by traders for traders, PIA-First offer professional technical analysis combined with market sentiment specifically designed for the professional trader and investor whether they are independent or working in a financial institution. Our research covers over 25 different financial instruments from major equity indices, commodities and spot foreign exchange (FX).

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