EURCHF - Heading back up to 1.13?
EURCHF - It's finally hit the lower (blue) line of the descending wedge. Now we're looking at possible longs back up to 1.13. I'm personally going to wait for a little more confirmation, ideally after the first pullback. However as you can see with this pair, when it moves, it moves fast and constantly. 1.18 seems to be a point of support/resistance so anyone taking longs now, look out for this area. As it so happens 1.1866 lines up with the 0.618 fib zone from the previous down leg. I've copied a bar pattern from a previous up cycle from October 2018 to show what might happen.
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.