EUR/CHF: back down into the channel

EUR/CHF: back down into the channel

2020-12-09 • Updated

EUR/CHF got down into the range of 1.0780-1.0790 breaking the four-week support. Therefore, the euro is becoming weak. Or, is it?

1.png

On a larger scale, EUR/CHF is just coming back down to the media it has been revolving around since the beginning of summer. As you can see on the daily chart below, the channel between 1.0730 and 1.0780 contains most of the currency pair’s movement, with outbreak down and up on the way. Therefore, go further below 1.0780 may be considered as a “normal” scenario for EUR to stabilize against the CHF tactically, in the course of a larger upward correction after EUR/CHF hit the lows of 1.05 when the virus hit. So, prepare your support levels!

2.png

                                                                                                  LOG IN

Similar

Gold Holding Well Above 1775
Gold Holding Well Above 1775

Gold Daily Chart Throughout last week’s trading, gold traded within a tight range, but it also managed to hold well above its 1775 support area until the end of the week, while the technical indicators has improved over the past few days, including…

Latest news

Walmart earnings outlook
Walmart earnings outlook

Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?

What to trade on May 16-20?
What to trade on May 16-20?

Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera