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Forex pairs in this Article » EUR/CHF
By: John Ursus

Timeframe: H4 Recommendation: Long Position
Entry Zone: 1. – 1.3800
Take Profit Zone: 1.3400 – 1.3450
Stop Loss Zone: 1.3950 – 1.4000

The EURCHF has correctly sharply as visible in this H4 chart. The last few trading weeks have led to a sideways trend and a breakout above its Fibonacci Resistance zone which is a very bullish signal for this currency pair. The breakout occurred today and the EURCHF should be able to add a rally which should take it back to its resistance area.

A mix of better than expected economic data out of the Eurozone coupled with stagnant progress in the Swiss economy should add a bullish boost from a fundamental aspect. A breakout above its next resistance area is likely to result in a sharp rally until a double top is formed.

EURCHF Signal 22414

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