EURCHF: Bullish Run In A Few Hours
Using support and resistance, EURCHF seems to have reached its lowest support which has held since 2011. It held again in 2016, and 2017. Using the 30 minutes time-frame, price is forming a flag on the top of the bottom. This signifies a reversal of the current downtrend which seems to have been in progress since early February.
However, there are other fundamental factors affecting the price of this pair like the weakening strength of the Euro due to the ECB's interest rate decision, and also the mayhem being caused by the Covid-19 in Italy. If all other factors remain as they are, the we should be expecting a bullish run in this market for the next couple days.
Always keep your lot sizes small and use proper risk management techniques. All comments are also welcome, and debate is necessary for growth. I'm happy to welcome contradicting ideas, as it'll help me grow in making proper analysis in the future. Thanks guys.
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