EUR/CHF 4H Chart: Could decline - Trade Pattern Ideas - Dukascopy Bank
Thu, 07 Nov 2019 06:40:20 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Buy
Buy
Neutral
Alligator(13;8;5)
Sell
Buy
Sell
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇘
⇗
⇒
The single European currency has depreciated about 0.72% in value against the Swiss Franc since last week's trading sessions. A breakout occurred through the lower boundary of an ascending channel pattern at 1.1020 on November 5.
Given that a breakout had occurred, bearish traders could continue to control the currency pair within next week's trading sessions. The potential target will be near the 1.0914 area.
However, a support cluster formed by the 200– period simple moving average and the weekly S2 at 1.0952 could provide support for the currency exchange rate in the short-term.
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