Swiss Franc is About To Reverse
Historically, the stability of the franc is caused by the solid Swiss economy and a highly developed banking system…
EUR/CHF looks ill
2019-11-13 • Updated
Trade idea
SELL 1.0915; TP 1.0880; SL 1.0930
The CHF is currently strengthening versus many currencies. The EUR is no exception. This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively. It looks like the pair formed a top when it slides below 1.0970. On the H4, the candlestick closed below the 61.8% Fibo retracement of the October advance at 1.0920, while moving averages are in the negative setup. There’s no substantial support for the price until 1.0880 (78.6% Fibo). The further level to watch on the downside is at 1.0835 (September lows).
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