FX.co ★ EUR/CHF

THE CURRENCY PAIR EUR-CHF Swiss Franc. Forecasting and analyzing the instrument/currency pair using Heikin Ashi candlesticks and TMA and RSI indicators shows that at the moment there is an opportunity to make a trading plan in the direction of purchases. Heikin Ashi candlesticks, which noticeably smooth and average the price value compared to conventional Japanese candlesticks, make it possible to notice reversal points, corrective rollbacks, and impulse price breakthroughs in time, which significantly facilitates trader analysis. The linear channel indicator TMA (Triangular Moving Average), which displays the current support and resistance lines on the chart by the Moving Average (Mashkas), is also an excellent assistant in trading, demonstrating the asset movement boundaries corresponding to the moment. And finally, the RSI oscillator indicator is used to make a final decision on concluding a deal, indicating the overbought and oversold zones of the traded asset. Such a choice of trading instruments significantly simplifies the process of technical analysis and helps to avoid false entries into the market as much as possible. First of all, it is worth noting that on the provided chart of the pair in question, a situation has developed in this period when the candles are colored blue, which signals that the bulls are now strong and actively pulling the price in the northern direction, so there is a good opportunity to open long positions at the most favorable prices. Price quotes went beyond the lower boundary of the linear channel (red dotted line), but, having dropped to the minimum extreme point, they pushed off from it and took the direction towards the central line of the channel (yellow dotted line). At the same time, the basement indicator RSI (14) also quite approves the buy signal since it does not contradict the conditions for choosing a long position; its curve is currently directed upwards and is located quite far from the overbought level. In connection with all of the above, we can conclude that the currently prevailing upward movement of the instrument means a good probability of working out purchases, and therefore we can decide to open a long deal. The take profit can be set approximately in the area of the upper border of the channel (blue dotted line), located at the price mark of 0.96225. To prevent the market from taking the profit received into the minus, I advise using trailing stop orders after the position moves to the profitable zone and trying to get even more profit.