• 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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