The pair has been in the down trend from 1.2236 levels. The pair is trading below the short and near term moving averages. On previous week, the pair exactly touched the 20 weeks Sma and changed its direction again towards lower levels. This week the pair opened its trading in a bearish note opened higher at 1.2157. We recommend to go long only above 1.2157 as strong up move will intact only above 1. 2165 levels for an upside target 1.2187 levels (50 days Sma). On the down side, until the pair breaks 1.2157 and 1.2165, we can see some lower levels at 1.2150, 1.2145, 1.2139 and 1.2130. The major weakness will exist below 1.2132 for 1.2120 and 1.21 levels.
In a nutshell, weakness below 1.2150 will drive the pair towards the nearest lower levels and even more lower.
Intraday- cmp 1.2156
The pair is trading above the hourly moving averages. The trading pattern is framed between 1.2150-1.2165. Traders can buy above 1.2158 or safe traders can only above 1.2165 for 1.2171, 1.2178 and 1.2191 levels. On the down side, the pair has support at 1.2150 a break below this, we can some selling pressure up to 1.2140, 1.2130 and 1.21 levels. Bears may take the pair towards 1.2020 levels, if it breaks below 1.21 levels.
Sell only below 1.2150, buy above 1.2165
The material has been provided by InstaForex Company – www.instaforex.com
EUR/CHF
The pair has been in the down trend from 1.2236 levels. The pair is trading
below the short and near term moving averages. On previous week, the pair exactly
touched the 20 weeks Sma and changed its direction again towards lower levels.
This week the pair opened its trading in a bearish note opened higher at
1.2157. We recommend to go long only above 1.2157 as strong up move will
intact only above 1. 2165 levels for an upside target 1.2187 levels (50 days
Sma). On the down side, until the pair breaks 1.2157 and 1.2165, we can see
some lower levels at 1.2150, 1.2145, 1.2139 and 1.2130. The major
weakness will exist below 1.2132 for 1.2120 and 1.21 levels.
In a nutshell, weakness below 1.2150 will drive the pair towards the nearest
lower levels and even more lower.
Intraday- cmp 1.2156
The pair is trading above the hourly moving averages. The trading
pattern is framed between 1.2150-1.2165. Traders can buy above 1.2158 or safe
traders can only above 1.2165 for 1.2171, 1.2178 and 1.2191 levels. On the down
side, the pair has support at 1.2150 a break below this, we can some selling
pressure up to 1.2140, 1.2130 and 1.21 levels. Bears may take the pair towards
1.2020 levels, if it breaks below 1.21 levels.
Sell only below 1.2150, buy
above 1.2165
The material has been provided by InstaForex Company – www.instaforex.com
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