EUR/CHF goes for 1.14 area
تم تحديثه
The gradual appreciation of the Euro against the Swiss Franc has resulted in the formation of an ascending channel. During the last trading sessions, the rate has demonstrated stickiness to the upper channel boundary, thus failing to reach the bottom line of the pattern.
Nevertheless, the Euro is currently approaching the given line and is likely to reach it near the 1.1400/1.1380 area. A subsequent fall is not expected to occur due to a strong level of support formed by the 200-hour SMA, 23.6% Fibonacci retracement and the monthly PP.
Thus, the base scenario favours a reversal near this area which may in turn push the rate back to the upper boundary of a medium-term descending triangle, likewise reinforced by the 55-hour SMA.
Nevertheless, the Euro is currently approaching the given line and is likely to reach it near the 1.1400/1.1380 area. A subsequent fall is not expected to occur due to a strong level of support formed by the 200-hour SMA, 23.6% Fibonacci retracement and the monthly PP.
Thus, the base scenario favours a reversal near this area which may in turn push the rate back to the upper boundary of a medium-term descending triangle, likewise reinforced by the 55-hour SMA.
أغلقت الصفقة: تم الوصول للهدف
The pair did reach quite fast above the 1.14 mark. Afterwards it began to decline after bouncing against the resistance line.Soon an update, showing the larger scale picture will be posted.
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