EUR/CHF is holding very well above the 200 days line at 1,2274. Yesterday it confirmed a session of consolidation forming a new inside day with 1,2415 â€“ 1,2270 the levels to follow in the coming hours. The indicators of the daily chart are still positive but those of the s/t ones remain mixed supporting further consolidation.
While below 1,2385 we could still see an extension of the correction toward the 1,2262 level where we find today the 200 hours line. A break above 1,2385 confirmed by an hourly closing will instead support a move up confirming also a positive reversal in the hourly chart suggesting a s/t target at 1,2595!!
I remain on the sideline; we suggest waiting for lower levels to buy.
EUR/CHF confirmed further consolidation interior the inside day with 1,2415 â€“ 1,2270 still the levels to follow in the coming hours. Only a daily closing above 1,2415 will support higher levels.
The indicators of the daily chart are still well positive as well as those of the weekly one where we had as well a strong closing well above the top of the previous week! In the s/t charts we have instead a mixed picture suggesting some consolidation. Possible a drop toward the 200 hours line at 1,2288 if not even alittel lower move that we want to buy.
I remain on the sideline!
I believe forex news - easy
EUR/CHF formed a negative day reversal after the 1,2440 overshooting where it found good resistance. Only a daily closing tonight below 1,2375 will confirm a s/t top causing further weakness!!
The indicators of the daily chart are still well positive but those of the s/t ones turned below the line following the correction. Possible therefore further weakness suggesting an extension toward the 200 hours line at 1,2334. This drop is in our view a nice buying opportunity for a 1,25 overshooting!!
Forex news - easy.