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EUR/CHF Potential Downward Movement

EUR/CHF Long-Term Trend: Bearish

Key Resistance Levels: 1.0141, 1.0199, 1.0238

Key Support Levels: 1.0077, 1.0048, 1.0001

Daily Time-frame:

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

1-Hour Time-frame:

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.

Signal Idea:

Sell Stop Order @ 1.0119

TP 1 @ 1.0088

TP 2 @ 1.0057

Stop Loss @ 1.0150

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

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