EUR/CHF Faces Rejection at Level 1.0910, Downtrend Likely
Login

EUR/CHF Faces Rejection at Level 1.0910, Downtrend Likely

Estimated Reading Time: 2 minutes

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 since March. In April, the currency pair broke below the moving averages as the selling pressure resumes. On March 16, a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that EUR/CHF is likely to fall to level 2.618 Fibonacci extension or level 1.0821.

EUR/CHF – Daily Chart

Daily Chart Indicators Reading:
The pair is at level 37 of the Relative Strength Index period 14. It implies that the pair is in the downtrend zone and it is below the centerline 50. EUR/CHF is approaching the oversold region of the market. 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. EUR/CHF pair corrected upward and retested level 1.1000. This signals the resumption. Meanwhile, on May 23 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that the pair will fall to level 2.0 Fibonacci extensions or the low of level 1.0844.

EUR/CHF – 4 Hour Chart

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

General Outlook for EUR/CHF
EUR/CHF pair is in a downward move. On January 15, the currency pair corrected upward to level 1.0905 but was resisted. The market is likely to reach level 2.0 Fibonacci level or level 1.0844.

You can purchase crypto coins here: Buy Coins


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