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Chart of the Day - EURCHF |
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Technical Archives |
Written by FX Solutions |
Jul 30 10 04:31 GMT
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Chart of the Day - EURCHF
The euro has fallen against the franc this week. Ever since the Swiss bank made comments that they would tolerate their franc to go below 1.30 it has been on a strong uptrend. The recent wave of risk has seen the pair fall almost 300 pips. Despite this pullback, the bullish trend is still valid and traders could see a bounce back in the pair. If price action takes the EUR/CHF towards 1.3475, traders could see a bullish rally. The two hour chart outlines a bullish technical pattern. If price falls below our lower trend line, the correction could form a new trend.
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About the AuthorFX Solutions
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(Chart courtesy of FX Solutions' FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; uptrend lines in green; downtrend lines in red; horizontal support/resistance lines in yellow; 200-period simple moving average in light blue.) |
