Candles have climbed into the bollinger bands, bands tightening, waiting for the PSARs to flip over, TP set at 50ma on the daily chart,
price is coming up on a resistance level and sound then begin the reversal,
any feedback is always great
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