FX.co ★ EURCHF is facing bullish pressure, potential for further upside!

Price is facing bullish pressure as it continues to hold above both the ascending trendline support and Ichimoku cloud, in line with our bullish bias. We could potentially see a bounce and a further rise above the ascending trendline support towards our 1st resistance at 1.08462, in line with our horizontal swing high resistance and 61.8% Fibonacci extension.

Trading Recommendation

Entry: 1.08234

Reason for Entry:

50% Fibonacci extension, 61.8% Fibonacci retracement and horizontal overlap support

Take Profit: 1.08462

Reason for Take Profit:

61.8% Fibonacci extension and horizontal swing high resistance

Stop Loss: 1.08111

Reason for Stop Loss:

100% Fibonacci extension and horizontal swing low support