EUR/CHF Potential Downward Movement

EUR/CHF Long-Term Trend: Bearish

Key Resistance Levels: 0.9532, 0.9581, 0.9678

Key Support Levels: 0.9401, 0.9341, 0.9286

Daily Chart:

The price on the higher time frame has been in a downtrend for some time and it has recently done a pullback. The pair faced resistance at the 0.9814 level and reversed from there. It has now broken a minor level of 0.9559 which indicates a bearish trend continuation. 

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 has recently broken a consolidation zone of 0.9678 and 0.9581 and sustained below that level. It has now broken and retested a minor level of 0.9532 before continuing the momentum.

Signal Idea:

Sell Stop Order @ 0.9482

TP 1 @ 0.9422

TP 2 @ 0.9362

Stop Loss @ 0.9542

Trade Safely 🙂