EUR/CHF analysis for October 25, 2017


Recently, the EUR/CHF has been upwards. The price tested the level of 1.1698. Anyway, according to the 15M time - frame, I found triangle formation in creation, which is a sign that buying looks risky. I also found a fake breakout of pivot resistance 1, which is another sign of weakness. My advice is to watch for potential selling opportunities if the price breaks triangle. The downward target is set at the price of 1.1627.

Resistance levels:

R1: 1.1686

R2: 1.1720

R3: 1.1778

Support levels:

S1: 1.1595

S2: 1.1535

S3: 1.1503

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company -