EUR/CHF horizontal resistance in-play!

EagleFX Team EagleFX

The EUR/CHF is facing strong resistance around 1.05260, which is mostly extended by a downward trendline on the 4-hour timeframe. The 50 periods EMA is keeping the EUR/CHF pair around 1.0528. The Euro is mostly staying bearish while the Swiss Franc in a bullish mode in the wake of an extended number of COVID 19 events around the globe.

The coronavirus pandemic, if not pleasantly directed, could produce fragmentation of the European Union economy, threatening the bloc’s single market and the single currency, the head of eurozone finance ministers Mario Centeno told European Parliament, which is keeping the bearish pressure on a single currency Euro.

The technical side of EUR/CHF continues to neutral bias as the pair holds over the psychological support level of 1.0500. On the 4 hour timeframe, the pair has formed a symmetric triangle pattern, which is extending resistance at 1.05200 level. A bearish breakout of 1.05130 level can extend sell-off until 1.0500 support zone.

EUR/CHF – Trade Setup

Sell Below: 1.05295

Take Profit: 1.0510

Stop Loss: 1.05335

Try Secure Leveraged Trading with EagleFX!

Author

EagleFX Team

EagleFX

EagleFX Team is an international group of market analysts with skills in fundamental and technical analysis, applying several methods to assess the state and likelihood of price movements on Forex, Commodities, Indices, Metals and

EUR/USD hovers around nine-day EMA above 1.1800

EUR/USD remains in the positive territory after registering modest gains in the previous session, trading around 1.1820 during the Asian hours on Monday. The 14-day Relative Strength Index momentum indicator at 54 is edging higher, signaling improving momentum. RSI near mid-50s keeps momentum balanced. A sustained push above 60 would firm bullish control.

GBP/USD holds medium-term bullish bias above 1.3600

The GBP/USD pair trades on a softer note around 1.3605 during the early European session on Monday. Growing expectation of the Bank of England’s interest-rate cut weighs on the Pound Sterling against the Greenback.

Gold sticks to gains above $5,000 as China's buying and Fed rate-cut bets drive demand

Gold surges past the $5,000 psychological mark during the Asian session on Monday in reaction to the weekend data, showing that the People's Bank of China extended its buying spree for a 15th month in January. Moreover, dovish US Federal Reserve expectations and concerns about the central bank's independence drag the US Dollar lower for the second straight day, providing an additional boost to the non-yielding yellow metal.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Weekly column: Saturn-Neptune and the end of the Dollar’s 15-year bull cycle

Tariffs are not only inflationary for a nation but also risk undermining the trust and credibility that go hand in hand with the responsibility of being the leading nation in the free world and controlling the world’s reserve currency.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.