EUR/CHF Is in a Bullish Momentum, May Resume Upward

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 still fluctuating between levels of 1.0740 and 1.0840. The price is likely to rise at the lower levels of the market. As the price consolidates, neither the lower price range nor the upper price level is broken. Buyers are likely to take control of prices. The pair will rise as it is range-bound.

Daily Chart Indicators Reading:
The pair is at level 48 of the Relative Strength Index period 14. It implies that the market has reached the downtrend zone and below the centerline 50. The 50-day SMA and 21-day SMA are sloping upward. It indicates the present trend.

EUR/CHF Medium-term Trend: Ranging
On the 4-hour chart, the pair is fluctuating between level 1.0740 and level 1.0840. The price has fallen above level 1.0740 and resumed consolidation. The price bars are concentrated at the lower price range. The pair will move up or a breakout may likely occur.

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping sideways indicating the sideways trend. The pair is above 20% range of the daily stochastic. It indicates that the market is in the oversold region of the market. It also suggests that buyers will emerge in the oversold region.

General Outlook for EUR/CHF
EUR/CHF is in a sideways trend but likely to rise. Buyers are likely to emerge to pushes prices upward. Traders are to initiate long orders in anticipation of the bullish trend. The bullish momentum has been weak.


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