Analysis of EUR/CHF for October 23, 2017


Recently, the EUR/CHF pair has been trading sideways at the price of 1.1600. On the 15M chart, I found a fake breakout of pivot level at the price of 1.1593, which is a sign that selling looks risky. There is also a positive reading on MACD oscilator, which is another sign of potential strength. My advice is to watch for potential buying opportuntiies. The upward targets are set at the price of 1.1629 (S1) and 1.1665 (S2, extreme intraday target).

Resistance levels:

R1: 1.1629

R2: 1.1665

R3: 1.1700

Support levels:

S1: 1.1557

S2: 1.1521

S3: 1.1485

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -