Daily pivots: (S1), 1.3288. (P) 1.3369. (R1) 1 3415. More
With 4 hours MACD signal line crossed above, a temporary low is at 1.3317 and intraday bias is enabled neutral at the moment. Some consolidations can be seen at first but the upside should be limited by the 1.3526 resistance and bring another autumn. 1.3317 will draw 1.3265 first.Further interruption will confirm that again from 1.2765 is finished at 1.3833 and should maintain an aliquot of this low; on the upside and break of 1.3526 bias that upside risks to a subsample of 1.3833 resistance instead.
In the bigger picture, a medium term bottom formation at 1.2765 and corrective rise from it can be extended further.But there is no central indication of trend yet and EUR/CHF may be converted only to sideway consolidation.In all cases, we expect strong resistance between 1.3923/4002 to limit the upside to extend consolidations; in the longer term, the down trend is still to continue as long as 1.4 psychological level remains intact. Break of 1.2765 will focus on 161.8% projection of 1.6368 to 1.4315 from 1.5138 at 1.1816.
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