EUR/CHF Potential Downward Movement

EUR/CHF Long-Term Trend: Bearish

Key Resistance Levels: 0.9663, 0.9701, 0.9761

Key Support Levels: 0.9601, 0.9565, 0.9504

Daily Chart:

The price on the higher time frame has been in a downtrend for the last few weeks and it is moving nicely while forming lower lows. The pair faced small resistance at 0.9799 and continued the downtrend after testing that area. Minor support of 0.9651 has been broken now.

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 consolidated for some time between a range of 0.9761 and 0.9731 and the lower range was broken. It has also broken and retested another level of 0.9701 before continuing the momentum. 

Signal Idea:

Sell Stop Order @ 0.9645

TP 1 @ 0.9608

TP 2 @ 0.9571

Stop Loss @ 0.9682

Trade Safely 🙂