ForceFollower
Short

EURCHF Bearish Reading

FX:EURCHF   Euro Fx/Swiss Franc
This pair is at the horizontal support level. Is it going to hold after the sloped one has failed to do so? The strongly correlated pair has somewhat uncoupled, with the CHF getting much stronger than the EUR. This bearish trend may continue, if 1.20515 is not going to hold.
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There is a very high degree of risk involved in trading forex . I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
FOREXEL
2 years ago
1.20 is the Swiss intervention right.. they havent been forced to defend it for a while but only 50 odd pips from that area. Might scare away the sellers or..
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ForceFollower FOREXEL
2 years ago
A very good point, thank you, RolleV. That's why I'd be looking to take profit above 1.2, eg. 1.2020, at the bottom of this channel (or even higher). Also - it's worth paying attention to the 1.211 resistance level. :-)
snapshot

snapshot
+1 Reply
FOREXEL ForceFollower
2 years ago
yes I am in on this one with you, thanks for sharing )
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