EURCHF stands on a rotten floor that is about to crack
The EUR CHF currency pair could not withstand the onslaught of the Swiss franc and fell sharply down to the strong support level of 1.1717. This level has saved the bulls from failure more than once. It is so strong that the price bounced off it several times as if it were a hard floor. But we remember what happened earlier when a similar support level was broken and therefore we will place our order to open a position slightly below this support at 1.0715. A breakdown of this price level will mean the continuation of the downward trend for some time. And so our target of 40 pips should be achieved on this trade.
Order Type: Pending Order - Sell Stop
Entry Price at 1.0715
Take Profit at 1.0675
Pips Earning: 40
Forex trade strategy and trading signals for major currency pairs:
EURUSD sell at the price of 1.1760
USDJPY sell at the price of 109.10
GBPUSD sell at the price of 1.3790
USDCHF sell at the price of 0.9100
The profit can be $432.88 if the trading volume of 100000 EUR (1 Lot).