EUR/CHF Price Prediction – April 29
It still appears that the EUR/CHF market valuation has to trade in the form of price retracement that it has embarked upon for about a month and a couple of days’ sessions until the present.
EUR/CHF Market
Key Levels:
Resistance levels: 1.1100, 1.1200, 1.1300
Support levels: 1.0950, 1.0850, 1.0750
EUR/CHF – Daily Chart
On the EUR/CHF daily chart, there has been a continued showing of variant candlesticks signifying a kind of correctional move in the currency pair market over time. Meanwhile, the retracement moving pattern mostly seems to transform into a bullish flag outlook. The 14-day SMA trend-line slightly points toward the north around the market trading zone. And, the 50-day SMA indicator is located around the immediate support level of 1.0950 underneath the smaller SMA. The Stochastic Oscillators are now freshly located in the overbought region attempting to cross the hairs near range 80. That signals that the journey to the north stands the possibility of losing momentum in a near session.
Will EUR/CHF prolong trading in the same manner of price retracement?
There has been no valid countering indication as to whether the EUR/CFH current trading formation will change in the near time. Even, at a closer technical viewing point, it appears that the currency pair may potentially soon start to experience a kind of range-bound trading situation. That said, EUR is expected to keep its decent method of making a re-launch after price reverses downward around the level of 1.1000.
Considering the possibility of seeing a downturn in this trading instrument, bears have now to keep their efforts mustering along a resistance line ideally decent for price reversal. As of writing, a mid-point between 1.1000 and 1.1100 seems to be the actual zone that bears should have to take advantage of. But, a breakout of that zone may cause a difficult momentum regaining against an uptrend.
In the summary, the trading stance of EUR against CHF has a higher probability of pushing northward more in the next trading sessions. Only that decent entry protocol needs to be adhered to.
EUR/CHF 4-hour Chart
EUR/CHF 4hour medium-term chart depicts that the currency pair is currently on a relative increase. The market formation trading pattern has been fallen in channel trend-lines around 1.1075 and 1.1000 points. The 14-day SMA trend-line is a bit over the 50-day SMA indicator in the channel. The Stochastic Oscillators are dipped into the oversold region trying to point towards the north. That signifies the possibility of getting to see a return of an upward movement in the EUR/CHF trading operations soon.
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