Trade Alert
EURCHF is retracing back down a bit, but still remains above the 1.1400 support area, which is holding the rate from dropping lower. Even if the pair decides to travel lower, still, the downside could be limited due to the upside support line, running from the low of the 7th of September. This is where the bulls could try and jump in, in order to drive the pair back up again.
Alternatively, a break of the above-mentioned upside support line and a drop below the 1.1386 level, could invite more bears to the table. This could force EURCHF to continue declining, where it could reach the area around 1.1340 level, marked by the low of the 26th of October.
Don't forget your SL.
EURCHF is retracing back down a bit, but still remains above the 1.1400 support area, which is holding the rate from dropping lower. Even if the pair decides to travel lower, still, the downside could be limited due to the upside support line, running from the low of the 7th of September. This is where the bulls could try and jump in, in order to drive the pair back up again.
Alternatively, a break of the above-mentioned upside support line and a drop below the 1.1386 level, could invite more bears to the table. This could force EURCHF to continue declining, where it could reach the area around 1.1340 level, marked by the low of the 26th of October.
Don't forget your SL.