U.S. Session Trade Setup - EUR/CHF Triple Top Pattern
|The EUR/CHF is trading with a neutral bias, having tested the triple top resistance level of 1.06350. Closing of candles below this level is suggesting the chance to take another sell trade in the EUR/CHF.
The Swiss Franc is gaining the safe-haven appeal in the wake coronavirus spread out. New coronavirus infections are now growing faster outside China than within, stoking fears that the economic impact on supply chains and consumer demand might be far greater than previously anticipated. Investors have rushed for the safety of U.S. government debt. Ten-year U.S. Treasury yields US10YT=RR slumped to a record low of 1.289%.
| Support | Pivot Point | Resistance |
| 1.0646 | 1.0679 | 1.0698 |
| 1.0627 | 1.0731 | |
| 1.0575 | 1.0783 |
The EUR/CHF has defined it's a new range of 1.0635 to 1.0590. The pair still holds below 50 periods EMA which is suggesting that bearish bias is still dominant. On the higher side, a breakout of 1.0610 will define a further upward trend, but the chances of a breakout are very rare. Therefore, we may see choppy sessions in between 1.0635 to 1.0590 range.
EUR/CHF - Trade Signal
Sell Below 1.0636
Take Profit 1.0610
Stop Loss 1.0650
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