EUR/CHF Is in Sideways Move, May Reach the high of 1.0810

EUR/CHF Is in Sideways Move, May Reach the high of 1.0810

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

EUR/CHF Price Long-term Trend: Ranging
EUR/CHF is in a range-bound movement. The market is fluctuating between level 1.0750 and 1.0850. The pair is gradually falling in a sideways move. In October, the price has been falling from the high of 1.0800 to level 1.0774. The pair is falling after retesting level 1.0780.

EUR/CHF – Daily Chart

Daily Chart Indicators Reading:
The pair is at level 48 of the Relative Strength Index period 14. It implies that the market is in the sideways movement and above the centerline 50. The 50-day SMA and 21-day SMA are sloping horizontally. It indicates the sideways trend.

EUR/CHF Medium-term Trend: Ranging
On the 4-hour chart, the pair is now on a downward movement while in a sideways trend. For instance, Since September 24, the pair has been falling from 1.0820 to 1.0780. The price has retested level 1.0780 and the downward move may continue.

EUR/CHF – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping sideways indicating the previous trend. The pair is below the 80% range of the daily stochastic. It indicates that the market is in a bearish momentum.

General Outlook for EUR/CHF
EUR/CHF is in a sideways move but has resumed a downward move. The pair is falling after retesting the 1.0780 high. The market is falling and it is expected to reach a high of 1.0810.



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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.