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EUR/CHF Potential Upward Movement

EUR/CHF Long-Term Trend: Bullish

Key Resistance Levels: 1.06293, 1.07008, 1.07394.

Key Support Levels: 1.05736, 1.05249, 1.05085.

Daily Chart:

The price on the higher time frame failed to break the support level around the 1.05722 CHF mark by leaving a huge bullish bodied bar. This could lead to a reversal and a move higher toward the next key resistance level around the 1.06293 CHF mark.

EUR/CHF Medium-Term Trend: Bullish

1-Hr Chart:

On the lower time frame, the price succeeded to break the bullish flag formation to the upside after finding buyers around the 50% Fibonacci retracement level. we expect further movement to the upside but before that a lower correction could be posted to the highlighted zone.

Signal Idea:

Buy Limit Order @ 1.05771

TP 1 @ 1.06268

TP 2 @ 1.07008

Stop Loss @ 1.05525

Trade Safely 🙂

In many cases we manually use market orders instead of pending orders to trade the trading ideas we send you. This is higher risk, and you can decide if it suits your trading style.

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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