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EUR/CHF Potential Upward Movement

EUR/CHF Long-Term Trend: Bullish

Key Resistance Levels: 1.04510, 1.05085, 1.05358.

Key Support Levels: 1.03989, 1.03783, 1.03168.

Daily Time Frame:

The price on the higher time frame found support around the 1.04000 CHF mark where the price posted an engulfing bullish pattern. This led to a reversal and a beginning of a new trend to the upside. The market now is testing again the bespoke support before a new bullish impulsive.

EUR/CHF Medium-Term Trend: Bullish

1-Hr Time Frame:

On the lower time frame, the price succeeded to break the bearish channel to the upside after posting a double bottom at the lower end of this pattern. A lower correction could be seen before a new move to the upside toward the target profits.

Signal Idea:

Buy Market Order @ 1.04113

TP 1 @ 1.04472

TP 2 @ 1.05085

Stop Loss @ 1.03934

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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