The 4 hour time is presented in this analysis covering over 3 months of price action in the EURCHF. The current active bearish trendline is indicated as well as immediate region of support i.e. between 1.12246 and 1.12489.
Conservative entry into a long position involves waiting for price action to breach the 4 hour bearish trendline that is confirmed by momentum, while less conservative positions or entry into a long position involve waiting for 1.13066 to give way at which point a breakout above the current falling wedge would have been confirmed.
POI (Point of invalidation) for a possible long position is a price close below 1.12246 which = resumption of current downtrend.
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