Recently, the EUR/CHF pair has been trading sideways at the price of 1.1712. According to the 4H time – frame, I found a fake breakout of horizontal resistance at the price of 1.1730 in the background, which is a sign that buying looks risky. I also found an overbought condition on the stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.1670.
Resistance levels:
R1: 1.1722
R2: 1.1731
R3: 1.1754
Support levels:
S1: 1.1698
S2: 1.1684
S3: 1.1660
Trading recommendations for today: watch for potential selling opportunities.
