FX.co ★ EURCHF facing bullish pressure, potential for further rise!

Price is facing bullish pressure as it continues to hold above both the Ichimoku cloud and ascending trendline support, in line with our bullish bias. We could potentially see a bounce at 1st support, in line with our 61.8% Fibonacci retracement, 78.6% Fibonacci extension and horizontal pullback support, and a further rise up towards our 1st resistance, which is in line with our 61.8% Fibonacci extension and horizontal swing high resistance.

Trading Recommendation

Entry: 1.10621

Reason for Entry:

61.8% Fibonacci retracement, 78.6% Fibonacci extension and horizontal pullback support

Take Profit: 1.10949

Reason for Take Profit:

61.8% Fibonacci extension and horizontal swing high resistance

Stop Loss: 1.10434

Reason for Stop Loss:

127.2% Fibonacci extension and horizontal swing low support