EURCHF approaching resistance, potential drop!
EURCHF is approaching our first resistance at 1.1530 (horizontal overlap resistance, 23.6% Fibonacci retracement) which coincides with our short term descending resistance line. A strong reaction might occur below this level pushing price down to our major support at 1.1367 (horizontal swing low support).
RSI (55) is also approaching resistance where a reaction off this level might be a good precursor for a potential drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (55) is also approaching resistance where a reaction off this level might be a good precursor for a potential drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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