John J Hardy
John Hardy, head of fx strategy at Saxo Bank provides a technical analysis of the following currency pairs: USDJPY, AUDUSD, EURUSD, EURGBP, AUDJPY, AUDCHF, EURCHF, NZDUSD and AUDNZD.
Short term
Trade view / 05 July 2016 at 10:25 GMT

Bearish candles signals send EURCHF lower

Director / PIA First
United Kingdom

Long term bias is neutral with the cross trading between key support of 1.0665 and resistance of 1.1120 since August 2015. The last two weeks have seen dips inside the Ichimoku Cloud find buyers. Ichimoku Cloud support is currently at 1.0739.

1.0800 continues to hold back the bears. The last two days have seen indecisive and narrow-ranged trading with consecutive inside bars being posted. However, the bearish outside candle from June 24 and Thursday's bearish engulfing candle give us a short- to medium-term bearish bias.

Trendline resistance is at 1.0827 followed closely by our bespoke resistance at 1.0830 so we look to go short around this area. A clear break of 1.0800 should lead to extended losses towards 1.0700. 

Management and risk description

A move down to 1.0790 and we would look to lower stop to 1.0830.


Entry: Sell EURCHF at 1.0825

Stop: 1.0860

Target: 1.0725 and 1.0705

Time horizon: 2-5 days

Lower highs:
Source: Saxo Bank. Create your own charts with SaxoTraderGO click here to learn more 

Bearish candles:
Source: Saxo Bank

 Weekly Chart:
Source: Saxo Bank

— Edited by Clare MacCarthy

Non-independent investment research disclaimer applies. Read more
05 July
Dj TinTin Dj TinTin
Hi Steve the current uptrend to 1.0850 worth short from that point or enter around what you confirmed
05 July
Steve O'Hare - First 4 Trading Steve O'Hare - First 4 Trading
Yes better risk/reward to enter here


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