Took a close look on EURCHF and found AUDCHF are trending similar, AUDCHF was posted last week about its major consolidation. EURCHF has its case quite different, if we shifted from the H4 to 30min there's an Ascending Triangle that is currently been broken, which indicates that Buyers are starting to have interest on this Baby possibly riding it up to 1.12719 and which is our short-term target.
If we focus on other factors besides the triangle confirmation, we can really focus on the candlestick information which we see the Market started to reject from 1.11336 (that is not our stop price) and if we decide to place a bullish trend line we get a firm understanding that the price constantly respecting the trend line. Personally my Stop price will be at 1.11639 and having several Target price: TP1- 1.12719, TP2- 1.13430 and our worst case scenario TP3- 1.14405
If we focus on other factors besides the triangle confirmation, we can really focus on the candlestick information which we see the Market started to reject from 1.11336 (that is not our stop price) and if we decide to place a bullish trend line we get a firm understanding that the price constantly respecting the trend line. Personally my Stop price will be at 1.11639 and having several Target price: TP1- 1.12719, TP2- 1.13430 and our worst case scenario TP3- 1.14405