EUR/CHF Reaches Bearish Exhaustion, May Reverse at Level 1.0749

Service for copy trading. Our Algo automatically opens and closes trades.

The L2T Algo provides highly profitable signals with minimal risk.

24/7 cryptocurrency trading. While you sleep, we trade.

10 minute setup with substantial advantages. The manual is provided with the purchase.

79% Success rate. Our outcomes will excite you.

Up to 70 trades per month. There are more than 5 pairs available.

Monthly subscriptions begin at £58.

L2T Algo

TELEGRAM

RESULTS

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
Since March 5, EUR/CHF pair has been in a downward move. The currency pair has fallen from the high of level 1.1100 to 1.0811. From the recent downtrend, the market appears to reach bearish exhaustion. Meanwhile, on July 14 downtrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the pair will fall but reverse at level 1.272 Fibonacci retracement level or level 1.0749.

Daily Chart Indicators Reading:
The currency pair is at level 38 of the Relative Strength Index period 14. It implies that the pair is in the downtrend zone and below the centerline 50. The market is approaching the oversold region. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend.

EUR/CHF Medium-term Trend: Ranging
On the 4 hour chart, the pair is in a sideways trend. Since July 8, the market has been consolidating between levels 1.0810 and 1.0860. The currency price has broken the lower price range. The pair has fallen to the oversold region of the market.

4-hour Chart Indicators Reading
The pair is above the 25% range of the daily stochastic. It indicates that the market is in a bullish momentum. The 21-day and 50-day SMAs are sloping horizontally indicating the sideways trend. The uptrend will resume if the price breaks above the support line of the horizontal line.

General Outlook for EUR/CHF
EUR/CHF has reached bearish exhaustion. The pair is retesting level 1.0795 to resume upward. If level 1.0795 support holds it will signal the resumption of an upward move. However, according to the Fibonacci tool, the market will reverse at level 1.272 Fibonacci retracement level or level 1.0749.

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