EURCHF--2.5-month rising trend-line underpins further upside
EURCHF 1.0943 bullish — 2.5-month rising trend-line underpins further upside
EURCHF rallied to a new multi-month high at 1.1049 (September 7, 2015) before consolidating. While the 2.5-month rising trend-line underpins, watch for further resumed strength through 1.1049 to challenge 1.1095 (61.8% of the 1.2016/.9650 sharp fall in January 2015). Above there would firm for 1.1437 (76.4% of the 1.2016/.9650 sharp fall in January 2015). However, a deeper pullback to break below the 1.0826 area (September 7, 2015 weekly low) would caution bulls and risk further weakness towards 1.0711 (August 17, 2015 range low).
Outlook:
Intraday:neutral
Daily:bullish
Weekly: bullish
EURCHF rallied to a new multi-month high at 1.1049 (September 7, 2015) before consolidating. While the 2.5-month rising trend-line underpins, watch for further resumed strength through 1.1049 to challenge 1.1095 (61.8% of the 1.2016/.9650 sharp fall in January 2015). Above there would firm for 1.1437 (76.4% of the 1.2016/.9650 sharp fall in January 2015). However, a deeper pullback to break below the 1.0826 area (September 7, 2015 weekly low) would caution bulls and risk further weakness towards 1.0711 (August 17, 2015 range low).
Outlook:
Intraday:neutral
Daily:bullish
Weekly: bullish
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.