Currency Analyst since 2010

EUR/CHF: bearish trade

Author: Leonid Vereschagin, independent trader, analyst, FX coach

Chart 1. EURCHF (D1).

The pair is now forming a rising triangle. Most of the technical signals point to further growth of the pair, but I recommend watching the Japanese candles with respect. There is an "engulfing" candle on the daily chart. The overbought market conditions add to the bearish idea.


Chart 2. EURCHF (H4).

Trade signal

SELL in a range: 1.2225-1.2235

Stop Loss: 1.2268

Take Profit: 1.2180

SL/TP may equal to 1:1,5-2.


Chart 3. EURCHF (H1).

The situation on the H1 chart remains uncertain. The price sits in the middle of the zone, so does the RSI indicator.

Резюме: sell-signal confirmed.

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