Daily FX Training | Learn Forex with the Dynamic Traders: Euro Swissy Bounce

Our previous forex analysis showed this EURCHF in a triangle formed resistance which is still in place.

The Euro Swiss franc chart shows the cross is in a range bound formation after a recent double top. Until yestersday this cross had produced approximately 200 pips before I was stopped out with a reversal at the institutional moving average. You will notice that is also not too far from the trend line support level and the figure and stochastics shows proximity to oversold territory.

So with that what is the direction of this cross in order to trade it and profit?

This cross is in a range and you know the rules of range bound activity. We will now wait for the set up to take place and let price dictate the position we will take. If the Euro Swissy deals above the resistance then apply the filter and look to enter long. If we break the trendline then a short with a filter to the next support is at 1.6000 zone is favoured.

Although this cross is in a range it is likely to provide a 100+ pips profit soon.