EURCHF - Daily - Recovery time? Or is it just a correction?
Trade Alert
EURCHF is sitting below its 200 EMA, which could be seen as a bearish sign in the long-term, unless the pair get's back above it soon. Certainly, we are currently seeing that EURCHF is trying to move back up, but will it be able to in the end?
For now, we could treat a break and a close above the 1.1575 as a chance for the pair to make its way towards that 200 EMA. Certainly, if that level holds, then EURCHF could get stuck within a little range between 1.1575 and 1.1505.
A break below 1.1505 could send the pair lower towards the last week's lows at around 1.1370.
Don't forget your stops.
EURCHF is sitting below its 200 EMA, which could be seen as a bearish sign in the long-term, unless the pair get's back above it soon. Certainly, we are currently seeing that EURCHF is trying to move back up, but will it be able to in the end?
For now, we could treat a break and a close above the 1.1575 as a chance for the pair to make its way towards that 200 EMA. Certainly, if that level holds, then EURCHF could get stuck within a little range between 1.1575 and 1.1505.
A break below 1.1505 could send the pair lower towards the last week's lows at around 1.1370.
Don't forget your stops.