EURCHF ANALYSIS
Price is currently ranging in between 0.99330 (resistance) & 0.98756 (support).
Trades within the range is possible via the ‘bounce’ strategy, where shorts can be opened at the resistance, and longs can be opened at the support.
Should price break out of the resistance of the range, it is expected to move towards the next resistance level at the 1.00000 level.
Should price break out of the support of the range, it is expected to move towards the next support level at the 0.98350 level.
A rising wedge formation has also occurred as additional confirmation.
Since price is currently near the resistance of the range, impulse short entries are possible now.
Price is currently ranging in between 0.99330 (resistance) & 0.98756 (support).
Trades within the range is possible via the ‘bounce’ strategy, where shorts can be opened at the resistance, and longs can be opened at the support.
Should price break out of the resistance of the range, it is expected to move towards the next resistance level at the 1.00000 level.
Should price break out of the support of the range, it is expected to move towards the next support level at the 0.98350 level.
A rising wedge formation has also occurred as additional confirmation.
Since price is currently near the resistance of the range, impulse short entries are possible now.