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EUR/СHF Technical Analysis & Daily Chart

Published on: 21/02/2017

General Analysis
From the moment the market open this week the EUR/CHF currency pair has been trading without significant volatility and practically without any growth or decline. Right now the price is located at the same level as it was at the opening time on Monday - 1.0665.

On the graph we can see a clear upward movement during the last week without any corrections. At the moment the price is approaching the support level on the mark 1.0630 and we have all reasons to expect a "rebound" from it.

Traders should attentively follow the market in the next few days and after receiving confirmation about the "rebound" from the level open long deals with a medium volume.

The Stochastic indicator shows the movement of the signal lines in the overbought zone - at the moment we see them crossing it and the penetration level 20 from the bottom up, which is a signal to buy.

The Next Few Days

Today it is too early to open long positions since the bottom of the downward movement has not formed yet and there is a high probability of "false breakouts." At the same time, it is also too late to go long.
We recommend opening buy deals after the bottom formation at the level of 1.0630 with target points of taking profit at the mark 1.0670. S/L orders can be set up by 20-30 points lower than the downward movement bottom.

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