EUR/CHF Potential Upward Movement

EUR/CHF Long-Term Trend: Bullish

Key Resistance Levels: 1.05361, 1.05968, 1.06000.

Key Support Levels: 1.04763, 1.04480, 1.04000.

Daily Time Frame:

The price on the higher time frame found support around the 1.04480 CHF mark where it posted a hammer bar which could lead to a reversal and a move to the upside. Most probably we are in the 1^st leg up in a new trend to the upside and we expect a new impulsive wave toward the next key resistance level.

EUR/CHF Medium-Term Trend: Bullish

1-Hr Time Frame:

On the lower time frame, the price is traded inside a bearish channel formation where it posted a double bottom pattern at the bottom of this channel. This expected to move the price to the upside. But before this move a lower correction could be seen.

Signal Idea:

Buy Limit Order @ 1.04763

TP 1 @ 1.05350

TP 2 @ 1.05968

Stop Loss @ 1.04570

Trade Safely 🙂