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EUR/CHF Potential Downward Movement

EUR/CHF Long-Term Trend: Bearish

Key Resistance Levels: 1.0289, 1.0330, 1.0382

Key Support Levels: 1.0170, 1.0103, 1.0047

Daily Chart:

The price on the higher time frame has been in a downtrend for months and recently it did a pullback and faced resistance at the 1.0507 level and reversed. The pair has then broken the support level of 1.0328 and continued the downtrend momentum.

EUR/CHF Medium-Term Trend: Bearish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The price broke the support level of 1.0330 and sustained below that. As of now, the pair has broken a trendline and retested it before continuing the trend.

Signal Idea:

Sell Stop Order @ 1.0241

TP 1 @ 1.0178

TP 2 @ 1.0115

Stop Loss @ 1.0304

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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