EURCHF - Possible idea long-term
Updated
The CHF had a terrible week and EUR is already above 1.1116 (0.61% fibo level since big fall in 2015) in his path to 1.2000
Last weekly candle was pretty strong compared with the rest and pair is clearly overbought. In a monthly timeframe it will be relatively soon.
It doesn´t mean that price will go down immediately but it´s an interesting moment to keep an eye. Maybe looking for 1.1516 (0.78% fibo) and then a retest at 1.1116 before keep going up.
Last weekly candle was pretty strong compared with the rest and pair is clearly overbought. In a monthly timeframe it will be relatively soon.
It doesn´t mean that price will go down immediately but it´s an interesting moment to keep an eye. Maybe looking for 1.1516 (0.78% fibo) and then a retest at 1.1116 before keep going up.
Note
As expected. Test 1.1516 and again. Time to pull back 1.1116 or rally to 1.2000?. Interesting pair to follow medium - long term.
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.