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EUR/CHF Potential Upward Movement

EUR/CHF Long-Term Trend: Bullish

Key Resistance Levels: 1.1085, 1.1117, 1.1151

Key Support Levels: 1.1036, 1.1007, 1.0984

Daily Chart:

The price on the higher time frame is trading inside a bullish flag formation where it shows that we are in a correction. So, the market posted an impulsive and then we are now in a middle of a retracement. We are expecting a new rally to the upside since the price is at the lower end of the flag pattern.

EUR/CHF Medium-Term Trend: Bullish

4-hour Chart:

On the 4-hr time frame, the price was trading inside a bearish channel before managing to break it to the upside. A correction might be seen toward the strong support around the 1.1036 USD mark. This move could lead to a move upward to the 1.1083 USD level.

Signal Idea:

Buy Limit Order @ 1.1040

TP 1 @ 1.1083

TP 2 @ 1.1117

Stop Loss @ 1.1018

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

2 comments

  1. Rocco van der Veer

    One think i keep thinking about.. can and past be set to allowed on the signal setting? It makes it quicker and less chance on mistakes.

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