EUR/CHF Long-Term Trend: Bearish
Key Resistance Levels: 1.1004, 1.1040, 1.1056
Key Support Levels: 1.0951, 1.0934, 1.0898
The EUR/CHF is trading with a bearish bias at 1.0954 level, and it has formed a downward channel on the daily timeframe. On the lower side, the pair can find support at 1.0941 level and resistance around 1.0966. The EUR/CHF has recently formed a bearish engulfing pattern on the daily chart; thus, we may have an excellent sell trade here.
EUR/CHF Medium-Term Trend: Sell
The EUR/CHF pair is closing candles below an immediate resistance area of 1.0966 level on the hourly chart. The upward channel has already been violated, and the support level of 1.0966 level is now working as a resistance. Let’s take sell trades below this area now.
Sell Order @ 1.09559
TP 1 @ 1.0928
TP 2 @ 1.0885
Stop Loss @ 1.0988
Trade Safely 🙂