Main Quotes Calendar Forum
flag

FX.co ★ EURCHF facing bearish pressure, potential for more downside!

parent
Forex Analysis:::2021-04-16T09:05:35

EURCHF facing bearish pressure, potential for more downside!

EURCHF facing bearish pressure, potential for more downside!

Prices are facing bearish pressure from 1st resistance in line with -27.2% Fibonacci retracement and 127.2% Fibonacci extension. Prices might push down further towards 1st support in line with 78.6% FIbonacci retracement and 61.8% FIbonacci retracement. If prices push past 1st resistance, prices might face resistance from horizontal swing high resistance which coincides with 78.6% FIbonacci retracement. EMA is also above prices, showing a bearish pressure for prices.

Trading Recommendation

Entry: 1.10422

Reason for Entry:

Horizontal swing high resistance, 127.2% Fibonacci extension, -27.2% Fibonacci retracement

Take Profit: 1.10135

Reason for Take Profit:

Horizontal swing low support, 78.6% FIbonacci retracement, 61.8% Fibonacci retracement

Stop Loss: 1.10550

Reason for Stop Loss:

Horizontal swing high resistance, 78.6% FIbonacci retracement

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...