FxWirePro: EUR/CHF trade idea
Source: FxWire Pro - Technicals / 06 Mar 2018 04:30:13 Eastern Standard Time
FxWirePro Currency Strength Index for EUR/CHF: Bias Higher
FxWirePro's Hourly EUR Spot Index was at 112.643 (Bullish)
FxWirePro's Hourly CHF Spot Index was at -90.7389 (Bearish)
Technical Analysis: Bias Bullish
- EUR/CHF has broken above 110-DMA
- Price action now eyes daily cloud at 1.1679.
- RSI is biased higher and shows strength above 50 levels.
- Momentum studies bullish.
- We see +ve DMI crossover on -ve DMI and MACD is showing bullish crossover on signal line.
Support levels - 1.1560 (nearly converged 5-DMA and 110-EMA), 1.1535 (20-DMA), 1.1485 (trendline)
Resistance levels - 1.1640 (trendline), 1.1679 (daily cloud), 1.17
Recommendation: Good to go long on dips around 1.1580/90, SL: 1.1530, TP: 1.1640/ 1.1680/ 1.17.
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