By Anton Eljwizat – The EUR has dropped significantly versus the CHF in the last two weeks, and it is currently trading around 1.4330. And now as evident in the data below, the daily chart is giving bullish signals, indicating that the EUR/CHF pair might go up. Forex traders can take advantage of this impending movement by having their Entry Orders in place to capture this reversal.
• Below is the daily EUR/CHF chart by ForexYard.
• The technical indicators used are the Relative Strength Index (RSI), Slow Stochastic, and Williams Percent Range.
• Point 1: There is a “doji” candlestick that has formed on the chart, indicating that a reversal should take place.
• Point 2: The Relative Strength Index (RSI) signals that the price of this pair currently floats in the over-sold territory, indicating upward pressure.
• Point 3: The Slow Stochastic indicates a bullish cross, signaling that the next move may be in an upward direction.
• Point 4: The Williams Percent Range is testing the lower border at the -100 mark, which merely highlights some added upward pressure.
EUR/CHF Daily Chart
Forex Market Analysis provided by Forex Yard.
© 2006 by FxYard Ltd
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