FxWirePro: Is it a make or break passage for long lasting range bounded trend of EUR/CHF? Interim bids on “One touch binary calls”

The bulls supported by momentum indicators to break-out above resistance of 1.0728.

Ever since the pair tested supports at 1.0684 levels, the bull swings are intensifying cushioned by the healthy buying momentum.

RSI converging above 46 levels with the upswings that indicate the strength in the bullish trend.

%K crossover on stochastic also signals rising bullish momentum.

While MACD’s bullish crossover to indicate the ongoing price gains to extend further.

As a result, the current upswings attempt to break above resistance of 1.0751 levels, more rallies likely upon breach above & sustenance.

On the contrary, the intermediate trend from last three months has been the bearish favor; narrow range persisted for last 1 year or so (see monthly charts).

RSI signals the sideway trend to slightly bearish potential, while stochastic on this timeframe has been indicating the bearish momentum.

This monthly technical study raises a puzzling question - Can it bounce back at support to persist in range bounded trend or breach below?

Contemplating daily technicals, it's understood that the bullish sentiments are resumed at the current juncture, whereas the medium-term trend is still in declining mode.

Hence, we reckon that it is a make or break time for EURCHF’s long lasting range amid interim bullish sentiments as stated above, as a result, we only like to favour short bull swings by taking positons in one touch binary calls for targets of 25-30 pips that adds leveraging effects in the payoff structure and long-term foreign traders who have their FX exposures in this pair should stay calm with hedging instruments.