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EUR/CHF Potential Upward Movement

EUR/CHF Long-Term Trend: Bullish

Key Resistance Levels: 1.0927, 1.0956, 1.1000

Key Support Levels: 1.0869, 1.0838, 1.0820

Daily Chart:

The price on the daily time frame is trending to the downside until it failed to probe below the 1.0869 USD support. This could lead to a reversal especially that the price posted a bullish engulfing pattern around this mark.

EUR/CHF Medium-Term Trend: Bullish

1-hour Chart:

On the 1-hour time frame, the price succeeded to break the bearish channel to the upside by posting an inverse head and shoulders.  A lower correction might be seen to the highlighted zone before a rally to the target profit.

Signal Idea:

Buy Limit Order @ 1.0899

TP 1 @ 1.0926

TP 2 @ 1.0957

Stop Loss @ 1.0889

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.

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