EUR/CHF climbed through the 1.0818 two-year downtrend to 1.0848 on Wednesday, the highest level since June 8. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, targets the June peak at 1.0915. Key quotes “EUR/CHF has eroded the 2018-2020 downtrend at 1.0818 and the recent high at 1.0838 is exposed. A close above 1.0838 is needed (favoured) to target the 1.0915 June high and the 1.1058 October 2019 high. We look for an imminent break higher, dips lower have remained shallow and longer-term, we favour a break higher.” “The market will find initial support at the 1.0736 the mid-August low. The July low and the 78.6% Fibonacci retracement at 1.0607/1.0593 are regarded as stronger support that is expected to hold.” 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 Bitcoin Price Prediction: BTC/USD commences consolidation above $10,700 – Confluence Detector FX Street 2 years EUR/CHF climbed through the 1.0818 two-year downtrend to 1.0848 on Wednesday, the highest level since June 8. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, targets the June peak at 1.0915. Key quotes “EUR/CHF has eroded the 2018-2020 downtrend at 1.0818 and the recent high at 1.0838 is exposed. A close above 1.0838 is needed (favoured) to target the 1.0915 June high and the 1.1058 October 2019 high. We look for an imminent break higher, dips lower have remained shallow and longer-term, we favour a break higher.” “The market will find initial support at the 1.0736 the mid-August… 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.
