EUR/CHF Testing Significant Support

Chris takes a look at the EUR/CHF pair after trading on March 1. It’s obvious that there is a significant amount of support just below, not only from a structural standpoint but the 200-day exponential moving average as well. With this being the case, we could be facing a bit of consolidation, which could be the market trying to wind itself up for a larger move. Beyond that, we have the 38.2% Fibonacci retracement level acting as support, and of course the EUR/USD pair looks as if it is trying to form a bit of a base from which to rally. With all of these things together, it looks as if we may have a potential move waiting to happen in this pair that tends to be rather slow-moving. Think of this more as an investment.


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