EUR/CHF: Bullish move confirmed above 1.0915 – Commerzbank
|Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, suggested EUR/CHF could move into a bullish stance if 1.0915 is cleared.
Key Quotes
“EUR/CHF continues to consolidate at the 1.0877 September high. This area guards the June high at 1.0915. These levels are key, the market has recently eroded the 2018-2020 downtrend, while this implies that we are no longer in a down move, it will need to close above 1.0915 to confirm that we are now in a bull move. This is favoured, but more work is needed.”
“First minor support along the 55 day moving average at 1.0770 may be revisited. Further support comes in at the 1.0748/12 late July, August and September lows and late October highs.”
“The 1.0607 10th July low guards the 1.0509/05 lows charted in April and May.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.