EURCHF approaching support, potential bounce!
EURCHF is approaching our first support at 1.1950 (horizontal swing low support, short term ascending support line). A strong bounce might occur above this level, pushing price up to our major resistance at 1.1979 (horizontal swing high resistance, 61.8% Fibonacci extension, 76.4% Fibonacci retracement).
Stochastic is also approaching our major resistance and we might see a corresponding rise in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic is also approaching our major resistance and we might see a corresponding rise in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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