Price has been trading in a bullish channel trend since September of this year. With global markets back in red, EUR fell sharply against the Swiss Frank at the opening of this week. Going forward, I would look closely to the price action of EURUSD & EURJPY for correlation. In addition, I would also look closely at the performance of global stock markets. The reason being that gains in risker assets like stocks, will be fundamentally bearish for a safe-heaven currency like the Swiss Franc.
Trade Step-ups:
Bullish Reversal: Price rejects a breakout from current support level, look for a move to the topside of the channel. Profit levels to look for are 1.1450, 1.1490 & 1.1530.
Bearish Breakout: Price breaks current support level, look for consolidation below 1.1380. Look for a potential move to test the final support level at around 1.1350.
Trade Step-ups:
Bullish Reversal: Price rejects a breakout from current support level, look for a move to the topside of the channel. Profit levels to look for are 1.1450, 1.1490 & 1.1530.
Bearish Breakout: Price breaks current support level, look for consolidation below 1.1380. Look for a potential move to test the final support level at around 1.1350.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.