EUR/CHF: Euro bounced at its 500 EMA following this mornings pullback; critical resistance is at 1.14345

Denis Joeli Fatiaki Independent Analyst

EUR/CHF: Euro bounced at its 500 EMA following this mornings pullback; critical resistance is at 1.14345

What is going on now with EUR/CHF?

EUR/CHF: The Euro fell below 1.14510 in yesterdays session but bounced at 1.14435 support and reached the estimated target at 1.14690. The pair failed to continue at 1.14690 and fell to 1.14510 support. The Euro failed to hold at 1.14510 and triggered the estimated short position in this mornings session. The pair continued its pullback from 1.14510 and took out three short positions at 1.14435, 1.14345, and 1.14270 before bouncing at 1.14270 support.

Our forecast

EUR/CHF: The Euro is currently attempting to reverse to the upside. The Euro currently trades at 1.14363 and needs to break and maintain above 1.14345 to continue to 1.14435 and 1.14510. The pair could head down to 1.14270 and 1.14210 support if it fails to maintain at 1.14345

Support/ Short - 1.14435, 1.14210, 1.14160, and 1.14055

Resistance/ Long Target- 1.14435, 1.14510, and 1.14600

The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx

Chart 1: The short-term view of the EUR/CHF price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points

Chart 2: The short-term view of the EUR/CHF price action in the four hours price chart highlights the direction of the trend and the support and resistance price points

Author

Denis Joeli Fatiaki

Independent Analyst

Denis Joeli Fatiaki possesses over a decade of extensive experience as a multi-asset trader and Market Strategist.

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