EURCHF has been rallying to the upside over the course of previous 2+ weeks, following strong Euro and relatively weak Swiss Franc. In such circumstances, it is reasonable to expect a test of the area around previously established highs (from previous Friday).
Many economic stats for Eurozone is going to be released during the next week. Euro is, possibly, still in play, but EURCHF looks stronger. I consider bying breakouts of most recent highs for EURCHF, having a strong directional bias to the upside.
Many economic stats for Eurozone is going to be released during the next week. Euro is, possibly, still in play, but EURCHF looks stronger. I consider bying breakouts of most recent highs for EURCHF, having a strong directional bias to the upside.
Note
Price comes close to the suggested target area. There might be modest update to the upside, but risks of rebound are getting higher as price action develops. My long trade for EURCHF is closed.
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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.