💱 EURCHF - A reversal pattern. What to expect from it?

١ أغسطس ٢٠٢٣

EURCHF is forming a reversal set-up. Against the backdrop of the global downtrend, this doesn't tell us much, but if the price overcomes the resistance, a quick trend reversal could be in order

TA on a high timeframe:
1) Strong bearish trend
2) Price continues to fall and test the bottom
3) Liquidity area that may be of interest to the market is above 0.96500

TA on the low timeframe:
1) A reversal setup is being formed relative to the 0.95987 level.
2) Consolidation between H&S base and 0.95897 support is possible, after which growth may follow
3) Bullish momentum may reach 0.96770 as this area is a global liquidity area.

Key support📉: 0.95987
Key resistance📈: 0.96500