Key Resistance Levels: 1.0864, 1.0914, 1.0957
Key Support Levels: 1.0799, 1.0745, 1.0689
EUR/CHF Price Long-Term: Bullish
The pair was in a downtrend with the beginning of January 2021, before reaching a strong daily support @ 1.0745 level. The price posted a double bottom around this level and started to move upward.
EUR/CHF Medium-Term Trend: Bullish
On the 4-hour time frame, the price is respecting the Elliott wave theory, and currently, the wave 5 is being formed. The price managed to break the resistance trendline (white line), and now the price is bouncing around the 1.0833 level where a slight correction to the downside is expected and then most probably a move upward to the 1.0864 mark.
Buy Limit @ 1.0833
TP 1 1.0864
TP 2 1.0890
Stop Loss 1.0822