Larger Retreat in EUR/CHF

Technical Reports

The cross is trading inside of diapason under 1.2004. Trading character is neutral. Consolidation and larger retreat are possible. Following pivot points include: (S1) 1.1913; (P) 1.1949; (R1) 1.1968.

Firm support from 38.2% retracement of 1.1445 to 1.2004 at 1.1790 should restrain downside and draw recoil. Strong breach of 1.2004 will indicate uptrend restoration.

A long term uptrend is resuming. Trend reversal hasn’t been confirmed yet. While 1.1445 support stands, the uptrend will hit the maximum of 1.2649. Breach of 1.1445 will confirm a medium term trend reversal and the forecast will turn bearish.