EUR/CHF Sell Signals Did Well - What's Next?

EagleFX Team EagleFX

The EUR/CHF pair extends it's selling trend to trade at 1.0613, as it's trading in line with our forecast. It's the safe-haven appeal, which is triggering the demand for Swiss Francs. Taking a look at the 4-hour chart, the EUR/CHF pair has broken the descending triangle, which was holding the EUR/CHF pair supported above 1.06679.

The worse CPI data triggered the weakness in the single currency Euro. The inflation data in Germany held at 1.7% in January 2020. The Federal Statistical Office records that consumer prices declined by 0.6% for the month of December. The prices of assets (total) soared by 2.0% in January 2020 from January 2019.

Support	Pivot Point	Resistance
1.0646	1.0679	1.0698
1.0627		1.0731
1.0575		1.0783

The new candles are presenting a bit uncertainty among traders, which may induce slight consolidated movement in the EUR/CHF currency pair around 1.0525 area. Below this level, the chances of selling remain solid. Consequently, let's take a selling position under this level to target the next support level of 1.5965.

EUR/CHF - Trade Setup

Sell Below 1.0625
Take Profit 1.0600/ 1.5965
Stop Loss 1.0655

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Author

EagleFX Team

EagleFX

EagleFX Team is an international group of market analysts with skills in fundamental and technical analysis, applying several methods to assess the state and likelihood of price movements on Forex, Commodities, Indices, Metals and

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