EUR/CHF Declines, Makes Lower Highs and Lower Lows, Targets Level 1.0827
Login

EUR/CHF Declines, Makes Lower Highs and Lower Lows, Targets Level 1.0827

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Key Resistance Levels: 1.0800, 1.0900, 1.1000
Key Support Levels: 1.0600, 1.0500, 1.0400

EUR/CHF Price Long-term Trend: Bearish
EUR/CHF pair is in a downward move. The currency price has continued to make series of lower highs and lower lows. The pair is making a lower high at level 1.0961. Rejection at the recent high will signal the resumption of the downtrend. Meanwhile, on April 12 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that the pair will fall to level 2.0 Fibonacci retracement or level 1.0827.

EUR/CHF – Daily Chart

Daily Chart Indicators Reading:
The pair is at level 55 of the Relative Strength Index period 14. It implies that the pair is in the uptrend zone and above the centerline 50. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend.

EUR/CHF Medium-term Trend: Bearish
On the 4 hour chart, the pair is falling. The currency pair is range-bound below level 1.0970. The market is falling after retesting the resistance zone. EUR/CHF price has broken below the moving averages which will accelerate the selling pressure.

EUR/USD – -4 Hour Chart

4-hour Chart Indicators Reading
The pair is below the 40% range of the daily stochastic. It indicates that the market is in a bearish momentum. The moving averages are sloping downward indicating the downtrend.

General Outlook for EUR/CHF
EUR/CHF pair is in a downward move. The downtrend is making a lower high which will result in a downward move. According to the Fibonacci tool, EUR/CHF will fall to level 2.0 Fibonacci retracement or level 1.0872.

You can purchase crypto coins here: Buy Tokens


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing
results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News