EUR/CHF is currently up over 250 pips from lows seen in May. The pair is yet to break out of a multi-year bearish channel. EUR/CHF is currently trading near 1.0780 – up 280 pips from lows near 1.05 observed in May. While the recovery from 1.05 looks impressive, the pair is still trapped in a falling channel represented by trendlines connecting May 2018 and April 2019 highs and September 2018 and March 2020 lows. A weekly close above 1.08 would confirm a falling channel breakout or reversal higher from the two-year-long downtrend and open the doors for a test of psychological resistance at 1.10. A violation there would shift the focus to the 200-week simple moving average (SMA) located at 1.1132. On the downside, a move below the higher low of 1.0712 created on July 24 would turn the tide in favor of the bears. Weekly chart Trend: Bullish above 1.08 Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Asian stock markets: Struggle for a clear direction amid broad risk-off FX Street 3 years EUR/CHF is currently up over 250 pips from lows seen in May. The pair is yet to break out of a multi-year bearish channel. EUR/CHF is currently trading near 1.0780 – up 280 pips from lows near 1.05 observed in May. While the recovery from 1.05 looks impressive, the pair is still trapped in a falling channel represented by trendlines connecting May 2018 and April 2019 highs and September 2018 and March 2020 lows. A weekly close above 1.08 would confirm a falling channel breakout or reversal higher from the two-year-long downtrend and open the doors for a test of… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
