Eurchfshort
EUR/CHF long Trade +Hello, Traders!
Monfex is at your service and today we overview EUR/CHF .
This currency pair is moving in a downtrend globally and now the local resistance zone has been overcome and there is the next resistance zone along with the resistance line. By breakout of this line, we can take the target ~ 1.14 .
But it is more inclined to think that there will be a downward rebound from the resistance line, since a strong trend movement and a good trading tone is sell from the main resistance levels.
Active Trade Signal by EUR/CHF
Buy near 1.1020
Take profit ~ 1.1158
Stop loss at 0.986
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Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any trading assets. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
EURCHF overbought plus bearish divergence. Mid term idea!EURCHF is having trouble making new October highs after hitting resistance at the daily chart’s 100 SMA!
Does this mean that the euro’s partying days are over? A quick peek at EUR/CHF’s Stochastic flashing overbought signals for the pair. What’s more, there’s also a bearish divergence on the chart!
EURCHF approaching resistance, look out for potential reversal!
EURCHF is approaching its resistance at 1.09389 where it is could reverse down to its support at 1.08962.
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Losses can exceed the initial investment so please ensure you fully
understand the risks.