
Historically, the stability of the franc is caused by the solid Swiss economy and a highly developed banking system…
2019-11-11 • Updated
Trade idea
SELL 1.1395; TP1 1.1350; TP2 1.1310; SL 1.1410
On W1, EUR/CHF formed a bearish candlestick with a long upper shadow. The pair failed to close last week above the line connecting October and February highs. Weekly Moving Averages also added to the resistance. At the same time, on D1 the pair got support from the 200-day MA at 1.1350. The euro will likely revisit the 1.14 area where it’s possible to try short positions. If the price manages to overcome the resistance, the next level to watch on the upside will be at 1.1440.
Historically, the stability of the franc is caused by the solid Swiss economy and a highly developed banking system…
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