Our preference: sales position below 1.1045 with targets at 1,1015 & 1,0990 in extension. Alternative scenario: in excess of 1,1045, aim for a continuation of the rise with 1,1060 & 1,1075 in line of sight. Comment: the slip under the 1,1045 constitutes a negative signal which opened the way to 1,1015.
Our preference: position bought above 1.0865 with targets at 1.0900 & 1.0910 in extension. Alternative scenario: in break of 1,0865, a continuation of the decrease will be envisageable with 1,0850 & 1,0835 in line of sight. Comment: The RSI militates for a rebound.
We can see the EURCHF is nearing a major support level and if we look at the 1W + 1M charts, we can see sellers are slowly diminishing and momentum is changing in favour of buyers, however we may see this manage a leg lower before price can move up. A conservative entry would be to wait for a break of the downtrend line, whilst staying above the uptrend line and...