Hello Price Action Traders.
The pair continued to retrace back after Wednesday’s bearish signal indicating a possible decline in the price. Friday the market has pushed up to touched the resistance just below 1.3000 and then down strongly and closed near to 1.2930. The major supports are at 1.2750 and 1.2650.
The pair is still retracing back from 103.50 resistance levels. The best level of support is between 100.00 & 99.50 as you can see from the chart below. One of my trading signals in this area might be very interesting to jump on this bullish trend.
Eur/Chf isn’t offering trading opportunities in a year and a half if we talk about short-term trading. At this time, however, we see that the situation is changing. During the week if price will form a trading long signal on 1.2380/1.2400 level might be a good opportunity for a short term trading with a good risk: reward scenario.
It’s all for today!
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