Home Technical Analysis EURCHF: Bulls are doing well, more upside actions to be seen!

EURCHF: Bulls are doing well, more upside actions to be seen!

0
0

The eight-hour chart of the EURCHF pair shows that the, prices have soared once again after short-lived consolidation.

EURCHF-H8-FXCOMMENT

Stable movements above moving averages 20&50 is a very positive technical catalyst that is supported by the bullishness appearing on RSI14 and ADX indicators.

The key resistance level resides at 1.0575- median line of pitchfork channel- and a break of which will trigger more buying interests, aiming to challenge the classical resistance of 1.0695.

Conversely, the significant support of 1.0435 should hold to protect the bullish overview.

(0)

Amir El-Araby Co-Founder & Chief Global Strategist at FxComment.com, with 17 years’ experience in the technical analysis studies for FOREX, Commodities and Indices. Amir El-Araby worked as a mentor for many companies and institutes, where he presented new methods for trading in the financial market. Amir is a member of ESTA (Egyptian Society of Technical Analysts). Amir is also the official partner of Harmonic Trader (Mr Scott Carney) and the official instructor of harmonic trader association for Arab countries.

LEAVE YOUR COMMENT

Your email address will not be published. Required fields are marked *