W33 - EURCHF dr 59

OVERVIEW

equal in:

• EURAUD
  
• EURCAD

weakness of EUR in:

• EURCHF
• EURJPY
  
• EURNZD
  
• EURUSD

strength of EUR in:

• EURGBP

OVERALL FOCUS ON EUR: buy this currency
OVERALL FOCUS ON CHF: sell this currency
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WEEKLY:

Lots of potential to correct. From the ATL started a new sequence which retraced around the 1.0 level (nothing special in a weekly chart) and broke the sequence. Waiting for a new try of the bulls.

2h:

Bullish sequence, target levels reached, fully corrected and a new sequence out of the correction, which also finished. Currently trapped in the opposite correction levels (pink). We expect it to correct at least to the correction levels of the secondary sequence, probably more.

30m:

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WHAT DO WE WANT?
Impulsive A, impulsive B and an extremely corrective C. This indicates a lot shorters who keep this currency pair in place. Probably not so wise to go long in the secondary correction level (blue) and way safer to trade the primary correction level (green). Would be nice if they decided to fight in the primary correction zone until they have filled enough long orders to go beyond the orange rectangle and create more bullish structure.
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DECISIONS
risk vs. profit: (-- / - / 0 / + / ++): -

For now we can only wait until it retraces to the correction levels.
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Neither the analysis described here, nor my updates are financial advice and should not be treated as such. They merely represent my ideas by applying the system I learnt from Stefan Kassing and are my interpretation of the system with certain tweaks.
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