EUR/CHF Long-Term Trend: Bearish
Key Resistance Levels: 1.0141, 1.0199, 1.0238
Key Support Levels: 1.0077, 1.0048, 1.0001
The price on the higher time frame has been in a downtrend for months and last month we saw a pullback to the 1.0400 level. The price faced rejection from that level and continued downwards after breaking minor support of 1.0207 this indicates a bearish bias.
EUR/CHF Medium-Term Trend: Bearish
On the lower time frame, the price is moving in the major trend direction. The pair was trading in a range between 1.0199 and 1.0141 for quite some time. We see that the pair broke the downrange with good momentum. As of now, the price has done a retest of that level and continuing the trend.
Sell Stop Order @ 1.0119
TP 1 @ 1.0088
TP 2 @ 1.0057
Stop Loss @ 1.0150
Trade Safely 🙂