Note: This section contains information in English only.There are many studies suggesting the Euro is going to keep appreciating versus the Swiss Franc. The currency pair is forming a high-quality ascending channel. At the same time, the bullish outlook is reinforced by the technical indicators in all three relevant timeframes.
However, in addition to being significantly overbought (70% of positions are long), the single currency is approaching an important supply zone at 1.0940/35, which consists of the weekly R2, and even more importantly, of the July highs. As long as this resistance is intact, long positions are risky, but a close above 1.0940/35 will imply an extension of the current recovery by 75 pips, up to the June 23 high at 1.1015.
Wed, 10 Aug 2016 07:19:04 GMT
Source: Dukascopy Bank SA
However, in addition to being significantly overbought (70% of positions are long), the single currency is approaching an important supply zone at 1.0940/35, which consists of the weekly R2, and even more importantly, of the July highs. As long as this resistance is intact, long positions are risky, but a close above 1.0940/35 will imply an extension of the current recovery by 75 pips, up to the June 23 high at 1.1015.