EUR/CHF Reaches Bearish Exhaustion, May Resume Uptrend at Level 1.0689
Login

EUR/CHF Reaches Bearish Exhaustion, May Resume Uptrend at Level 1.0689

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: Ranging
EUR/CHF has been on a downward move since September 25. The current downtrend resumes after the retest at level 1.07488. The market is still falling. On October 15 downtrend; the last retraced candle tested the 78.6% Fibonacci retracement. It indicates that the pair will reach level 1.272 Fibonacci extensions and reverse.

EUR/CHF – Daily Chart

Daily Chart Indicators Reading:
The pair is at level 36 of the Relative Strength Index period 14. It implies that the market is in a downtrend and below the centerline 50. The pair is approaching the oversold region. The 50-day SMA and 21-day SMA are sloping horizontally. It indicates the sideways trend.

EUR/CHF Medium-term Trend: Bearish
On the 4-hour chart, the pair is also in a downward move. On October 28 downtrend; a retraced candle body tested 78.6% Fibonacci retracement level. This indicates that the pair will fall and reach level 1.272 Fibonacci extensions or 1.0688. The market is expected to reverse at that price level.

EUR/CHF – 1 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 30% 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 downward move. The market has reached the oversold region. Buyers are expected to emerge. According to the Fibonacci tool, the market is expected to reverse at the 1.272 Fibonacci extensions or level 1.0689.


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