Unexpectedly, EURCHF was headed down and extended its range low to 1.0868. The cross rate remains under pressure below 1.0904 and currently is trading at 1.0884. On the hourly chart, EURCHF is struggling below SMA90; technical indicators suggest bias is slightly bearish. Downside should prevail as long as EURCHF stays below SMA90.
The EUR / CHF remained in the price channel, which can be limited by the support level 1.0826 (50.0% Fibonacci) and the resistance level 1.0864 (61.8% Fibonacci). This channel can not be called confirmed and reliable, in addition it is rather narrow and, with low volatility, does not look acceptable for short-term deals. It remains to wait for some certainty.
The pair is near the level, which is located at the level of 1,08726. The pair broke through the level from above and entrenched after it, considering the sale of the pair in the short term, to the level at the level of 1.088415. If the pair leaves above the level and there will be fixed, I will consider buying a pair, to the level that is at the level of 1.09024.
EUR / CHF rolled back after reaching 1.0907 and the intraday direction again changed to neutral. Preference is given to the scenario, in which the rollback from 1.0986 has already completed at 1.0837. If the pair trades above the resistance at 1,0907, then the direction will change to ascending for the purpose of a new test of the resistance zone at 1.0986-0999. In the event of a breakdown of 1.0836, the correction will continue, but the breakdown of the support zone at 1,0791-0872 is not expected.
The pair is still under pressure from sellers and may continue to fall on their activity from Monday, while waiting for pressure from sellers with the fall of the pair to the level of 1.0770 and 1.0740, if buyers can push the level of 1.0865, I expect the pair to turn on buyers interest with the pair rising to the level of 1.0925 And its breakdown will further strengthen the activity of purchases and the couple will be able to continue growing to the level of 1.08980.
The EUR / CHF currency pair on the thirty-minute timeframe approaches the lower limit of the accumulation in the range 1.0856 - 1.0870, there is an option for sale from the level of 1.0856 with a stop at your discretion and targets around 1.0831 and below. An alternative option is to either buy at the current price of 1.0849, or wait for the price to be rolled back to the area of 1.0831 - 1.0840, where to buy with the stop below the level of 1.0831 and the targets for the breakdown of the accumulation of 1.0856 - 1.0870. The next goal for purchases is the accumulation in the range 1.0870 - 1.0881.
As shown in the hourly time frame, a breakout occurred in the area when an inner bar was seen. There are two parallel straight lines found that is close to the price level of 1.1475. Following the trading rules in the system, the order to sell the EUR/CHF pair is open and the initial take-profit (T/P) is positioned at 1.1434 support level. The second T/P is found in the price level of 1.1395. For short-term, the price will most likely go down.
EMA 11 soon crossed the EMA 56 to the upside. This will confirm the bullish bias on the market. RSI 14 already crossed the 50 level.
Day Range:High 1.1535 Low 1.1395
Green Line:Show the high of day range
Red Line :Show the low of day range
EMA 56 Colour Red
EMA 11 Colour Yellow
Breakout the strong support and turning bullish EURCHF 6-10-2017
The RSI has already crossed the level 50 to the upside. and the EMA11 crosses the EMA56 to the upsie, the bias on the market would turn bullish.
Its a clean today.But other forex pair related news may affect.
Market breakout the strong support 1.1450 and testing it now.It is a valid buy oppourting for us.
I am using H4 time frame for technical analysis. With the help of EMA56 and EMA11, I guess the trend of the market. If EMA11 crossess the EMA 56 to the upsied then, I can say that market is bullish. If EMA11 is crosses the EMA56 to the downside, then I can say that market is bearish. RSI14 is a early indicator for guessing the trend. If RSI14 is above 50 level.Then market could turn bullish. If RSI14 is below the 50 level then market can turn bearish. EMA56 in the chart has red colour while EMA 11 has gold colour. Green line shows high range of today. Red line shows low range of the day.
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