EURCHF approaching resistance, potential drop!
EURCHF is approaching our first resistance at 1.1657 (horizontal swing high resistance, 61.8% Fibonacci extension) and a strong reaction might occur below this level pushing price down to our major support at 1.1591 (horizontal pullback support, 38.2% Fibonacci retracement, short term ascending support line).
RSI (89) is also seeing a bearish exit where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (89) is also seeing a bearish exit where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.