EUR/CHF: trade ideas
By Felipe Erazo
On the H1 chart we can see that the EUR/CHF is trying to consolidate above the support level of 1.2165. Now, this pair is likely to rise to the resistance level of 1.2173 in the short term, but remember that the EUR/CHF is below the 200 EMA, so the bearish outlook still remains alive in this pair. Furthermore, it has formed a resistance level near to the level of 1.2172.
However, if the EUR/CHF manages to make a breakout in the support level of 1.2165, it’s expected to fall to the level of 1.2159. Moreover, if this pair able to consolidate over resistance level of 1.2173, the next target would be the level of 1.2176. The CCI indicator remains below the 100 level.
Trading recommendations (Intraday): Place sell orders if the EUR/CHF does a breakout at the support level of 1.2165, with take profit at the 1.2159 level. Also, you can place buy orders if the pair does a breakout at the resistance level of 1.2173 (take profit at 1.2176).
Chart. H1 EUR/CHF