U.S. Session Trade Setup - EUR/CHF Triple Top Pattern

EagleFX Team EagleFX

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

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 hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.