EUR/CHF Sideways Trading Continues - Choppy Trade Opportunity!

EagleFX Team EagleFX

The EUR/CHF is trading sideways within a narrow trading range of 1.0606 to 1.0663. Overall, the pair keeps on trading in a selling bias as the weaker German Zew Economic Sentiment, and the safe-haven appeal is keeping the pair under pressure.

Tech giant Apple announced that it would not meet its March quarter sales guidance (63 - 67 billion dollars) due to China's coronavirus outbreak. The company pointed out that it is experiencing a slower-than-anticipated return to normal conditions concerning manufacturing facilities in China, and that temporary iPhone supply shortages will affect its global sales. The demand for the company's products in China is impacted by the closure of all its stores in the country.

Support	Pivot Point	Resistance
1.0646	1.0679	1.0698
1.0627		1.0731
1.0575		1.0783

The EUR/CHF pair is reversing lower after crossing below 20 EMA level of 1.0630. Closing of candles below this area are likely to drive more selling until 1.0610 and 1.0600

EUR/CHF - Trade Setup

Sell Below 1.0597
Take Profit 1.580
Stop Loss 1.065

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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

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