EUR/CHF 4H Chart: Pressured by 50– and 100– hour SMAs - Trade Pattern Ideas - Dukascopy Bank
Thu, 15 Aug 2019 06:06:49 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Neutral
Buy
Buy
Stochastic(5;3;3)
Buy
Buy
Buy
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Sell
Sell
Sell
Aggregate
⇘
⇒
⇒
Since July 31, the common European currency has depreciated about 1.89% in value against the Swiss Franc. The currency pair was pressured by the 100– hour simple moving average.
The exchange rate was trading near the bottom border of a descending channel pattern at 1.0854 during the morning hours of Thursday's trading session and could be set for a breakout.
If this breakout occurs, bearish traders could aim at the weekly S3 at 1.0759 during next week's trading sessions.
On the contrary, the weekly S1 and the monthly S2 near the 1.0854 area could provide support for the EUR/CHF currency exchange rate and help push the pair towards the 100– hour SMA at 1.09571 in the short-term.
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