EURCHF Medium-term Channel Up.

25 May 2022

The EURCHF pair has been following the pattern published 2 months ago and has entered into a medium-term Channel Up, while still trading within a multi-year Channel Down:

Right now the price is near the Higher Lows (bottom) trend-line of the Channel Up, rendering it an automatic buy on low risk towards the 1D MA200 (orange trend-line) and if a candle closes above, then extension to the long-term Lower Highs trend-line (around 1.0600).

If the price breaks below the Channel Up but as long as the 1.00920 Support holds, we should turn neutral until the 1D MA50 (blue trend-line) and the 1D MA200 break. A candle closing below the Support, will more likely restore the long-term Bearish sentiment.



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