Retest of "Mirror" Support on EUR/CHF

Retest of Mirror Support on EUR/CHF

The EUR/CHF currency pair has been growing after a prolonged consolidation. The trading instrument has updated local highs. The current technical pattern signals a further recovery of quotes. At the moment, the EUR/CHF currency pair is testing the "mirror" support level of 1.0650. The nearest resistance is at 1.0670. We recommend paying attention to this situation.

If the price fixes above 1.0670, further growth of EUR/CHF quotes is expected. The nearest goal for profit-taking is 1.0700-1.0720. The movement is tending to 1.0750-1.0780. Confirmations and market entry points should be looked for on lower timeframes. When tracking positions, we recommend using a trailing stop.

by JustForex 2020.03.02

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Open Account

Get Free Analytics

* required fields