EUR/CHF reversed from support level 1.1250

EUR/CHF reversed from support level 1.1250

  • EUR/CHF reversed from support level 1.1250
  • Next buy target - 1.1400

EUR/CHF recently reversed up sharply from the powerful support level 1.1250 (former major support level from August of 2017) – strengthened by the lower weekly Bollinger Band. The upward reversal from this support level stopped the previous intermediate impulse wave (C) from July. Given the oversold weekly Stochastic, EUR/CHF is expected to rise further toward the next buy target at the next resistance level 1.14000 (former major support from May).

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EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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