Technical Analysis

EUR/CHF Setting Up For Further Gains


The rate dropped significantly today and recovered after the yesterday's impressive rally. Is retesting the broken fifth waring line (wl5) of the former descending pitchfork, the 1.1536 broken horizontal resistance (resistance turned into support) and the upper median line (uml) of the minor descending pitchfork.

A rejection from here will send the rate much higher in the upcoming period, the next target will be at the 1.1621 previous high.

Author: MultiBank Exchange Group Website:
MultiBank Exchange Group
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.
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