By Anton Eljwizat – The EUR/CHF has recorded much bearish behavior in the past several days. However, the technical data indicates that this trend may reverse anytime soon. For example, as I demonstrate below, the 8-hour chart signals that a bullish reversal is imminent, and it might have the potential of reaching towards 1.3750 in the coming days. Forex traders can take advantage of this imminent upward movement by entering long positions at an excellent entry price.
• Below is the 8-hour chart of the EUR/CHF currency pair.
• The technical indicators used are the Slow Stochastic, Relative Strength Index (RSI), and Williams Percent Ranges.
• Point 1: There is a “doji” candlestick that has formed on the chart, indicating that a reversal should take place.
• Point 2: The RSI signals that the price of this pair currently floats in the over-sold territory, indicating upward pressure.
• Point 3: The Slow Stochastic indicates an impeding bullish cross, signaling that the next move may be in an upward direction.
• Point 4: The Williams Percent Ranges is showing that this pair is heavily over-sold and may be experiencing strong upward pressure.
EUR/CHF 8-Hour Chart
Forex Market Analysis provided by Forex Yard.
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