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EUR/CHF Potential Upward Movement

EUR/CHF Long-Term Trend: Bullish

Key Resistance Levels: 1.08301, 1.08631, 1.09000.

Key Support Levels: 1.07391, 1.07004, 1.06598.

Daily Chart:

The price on the higher time frame failed to break the 1.07391 USD mark by posting a fake breakout and a double bottom which led to a reversal. The buyers are in clear upward movement now where the buyers are in control of the market.

EUR/CHF Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the price succeeded to break the Wyckoff accumulation phase to the upside. A lower correction is expected to the higher end of the channel before a new bullish impulsive wave.         

Signal Idea:

Buy Limit Order @ 1.07606

TP 1 @ 1.08282

TP 2 @ 1.08631

Stop Loss @ 1.07380

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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