#EUR/CHF Analysis
#EUR/CHF Analysis
The Price has been in Ascending Triangle Pattern for some time now. The Bulls are strong on this pair. We have price going up to meet the 2-Year Descending Trendline and the Tested Resistance at 1.0800.
So We have two types of resistance at this point. Trend-line Resistance and Horizontal Resistance. The question is: will the Buyers be able to break both resistances?? There must be strong momentum and enough strength to do this. Maybe a news event or economic report may be enough to trigger a breakout?
Trade Idea:
Waiting for a clear breakout above the 1.0800 level up to 1.0850, then wait for price to come down to retest the broken resistance. If the Breakout is real, the broken support will turn to a strong Support.
This is the safest way to do this. The volatility in this pair is very high. so please be careful. You can add this pair to your watch list.
The Price has been in Ascending Triangle Pattern for some time now. The Bulls are strong on this pair. We have price going up to meet the 2-Year Descending Trendline and the Tested Resistance at 1.0800.
So We have two types of resistance at this point. Trend-line Resistance and Horizontal Resistance. The question is: will the Buyers be able to break both resistances?? There must be strong momentum and enough strength to do this. Maybe a news event or economic report may be enough to trigger a breakout?
Trade Idea:
Waiting for a clear breakout above the 1.0800 level up to 1.0850, then wait for price to come down to retest the broken resistance. If the Breakout is real, the broken support will turn to a strong Support.
This is the safest way to do this. The volatility in this pair is very high. so please be careful. You can add this pair to your watch list.
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