Hi, I'm Chris Capre, founder of 2ndSkiesForex. I'm a verified profitable trader and trading mentor. As a professional trader, I specialize in trading Price Action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18 years of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.
EURCHF – Looking Heavy @ Key Support Level (4hr chart) | Mar 28
Chris Capre’s current live price action and ichimoku trades: EURUSD, GBPUSD, EURCHF, EU50, BIR, TLS
NOTE: Till the end of March, you can get 20% off all our trading courses! To get the discount, make sure to use the coupon code MARCH20. If you want to learn more about our trading courses and becoming a member, click here.
EURCHF – Looking Very Weak @ Key Support Level (4hr chart)
Since Sept. of last year, the EURCHF has been holding a small range between 1.1478 and 1.1188. This latter level (1.1188) has acted as a key support level for the pair 2x in the past, however the 2nd bounce was weaker than the first, producing a lower low.
Over the last few weeks, the pair has been selling off consistently, now testing that key support level and not really producing a bounce. If the pair closes the week below ~1.1175, then viewing lower prices as the line of least resistance. That would put 1.10, 1.0975 and potentially 1.07 into focus.
On the other side, if the pair the following week closes back above, then we likely have a false break.
ST bearish with the potential breakout structure, MT bullish while weekly close above 1.1175.
Key Support & Resistance Levels:
S: 1.1175 & 1.0975
R: 1.1375 & 1.1463
Stay tuned to our members market commentary for updates.
Want More? My private members get all my trade ideas & market commentary 4x per week. Click here to become a member.