EURCHF technical analyze
Based on a technical analysis of EURCHF, the currency pair has exhibited a strong downward movement, starting from its peak of 1.003 and falling to a low of 0.9717. However, the pair found support from buyers at this level, and has since been steadily climbing upward. In fact, the pair has already tested the 0.9975 level twice, and though it retreated briefly to 0.9866, it has since returned to the 0.9975 level.
When we look at the chart of this movement, we can see a clear technical pattern forming – a cup. This pattern has a good win ratio of 70%, which is encouraging for traders. As a result, it’s likely that the price will break through the 0.9975 level and continue to move towards the high of 1.003.
In summary, based on this technical analysis, the EURCHF H4 currency pair is exhibiting a bullish trend, with the potential for further gains in the near future. Traders may want to consider taking advantage of this trend by entering a long position on the pair.
Our previous technical analyze of AUDUSD on 27.03.2023 brought profit of 87 pips.
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