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The Euro weakened on Tuesday in the wake of lower-than-expected EU and German growth numbers and has retraced most of Monday's gains against the Franc. EUR/CHF fell to a low of 1.1165 in recent trade and it is currently trading at the 1.1180 region, recording a 1.25% loss on the day.
EUR/CHF is seeing an oversold rebound from fresh all-time lows. While under 1.1374 our bias remains firmly lower. A move back over 1.1892 is required to end our bearish bias.
the chart is showing that he pair has succeeded in breaking the level of 1.1300 , so that's mean the uptrend is still standing and the pair might continue it's up movements heading to 1.1350 and then 1.1400
Buy [Start] -> 1.1332
Buy [End] -> 1.1352
Stop Loss -> 1.1292
Max Take Profit -> 1.1512
Resistance 1 -> 1.1471
Resistance 2 -> 1.1615
Resistance 3 -> 1.1774
we can see that the pair has closed it's daily candle above 1.1400 . so , that's means that up trend is expected and the pair might head to 1.1500 and then 1.1550 ,but also the hourly correction is expected before continue in the up trend
Currently uptrend should end around 1.1531 - 1.1582 area. A correction down to below 1.1262 is expected. A rise above 1.1692 will abort the expected correction
With the opening bullish gap for the pair the downside tendency is also seen to cover the gap, and surely with the prevailing tension over the Franco-German meeting which investors will eye into Wednesday.
Currently uptrend should end around 1.1531 - 1.1582 area. A correction down to below 1.1262 is expected. A rise above 1.1692 will abort the expected correction
The EUR/CHF, the key pair market participants are watching, tumbled the most following the news. No less than one week ago was the possibility of EUR/CHF parity a plausible option
Intraday trade:
If a M15 close above 1.1421 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1.1358 sell only and do not buy. If price closes back above it again do nothing
The range 1.1421 and 1.1358 is neutral area, any trade done in between is personal decision and not part of this analysis