Monfex is at your service and today we overview EUR/CHF.
This currency pair is moving in a downtrend globally and now the local resistance zone has been overcome and there is the next resistance zone along with the resistance line. By breakout of this line, we can take the target ~ 1.14.
But it is more inclined to think that there will be a...
EURCHF - Intraday - We look to Sell at 1.0917 (stop at 1.0942)
Majority of the initial daily gains being overturned. Previous support level of 1.0841 broken. We have a 50% Fibonacci pullback level of 1.0828 from 0.9651 to 1.2000. Risk/Reward would be poor to call a sell from current levels. Bespoke resistance is located at 1.0917.
Our profit targets will be...
EURCHF - Intraday - We look to Sell at 1.0930 (stop at 1.0955)
Continued downward momentum from 1.0956 resulted in the pair posting net daily losses yesterday. Bespoke support is located at 1.0830. There is no clear indication that the downward move is coming to an end. Ichimoku cloud support comes in at 1.0772. The 261.8% Fibonacci extension is located at 1.0785...
Looking for the supporting trendline to be broken before selling, maybe after price has touched this current resistance. Targeting 1.07 area. look at our earlier analysis on this pair regarding the daily timeframe
Nice clean and strong downtrend on the 60 coming off minor support but I think it can get retested at least. Daily held support and currently oversold in a downtrend which is slightly conflicting but decision is made off the 60.
Bearish flag formation
Expecting a decline
1. This profile is for educational purposes ONLY!
2. The setups given are my own perspective of the forex market and by no means require action!
3. Trading involves risk, past profits do not guarantee future results, so never risk what you are not willing to lose!
We had a recent trade on this pair from the top and half of that trade is still open and it has now given another chance to enter in the market. Price has recently broken below 50EMA and pulled back and touched the EMA and bounced which suggests continuous downtrend on this pair. I've marked the tp and sl for you as well.
Long term tp on this pair is...