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FxWirePro: EUR/CHF Trade Idea

FxWirePro Currency Strength Index for EUR/CHF: Bias Higher

FxWirePro's Hourly EUR Spot Index was at 112.643 (Bullish)

FxWirePro's Hourly CHF Spot Index was at -90.7389 (Bearish)

Technical Analysis: Bias Bullish

- EUR/CHF has broken above 110-DMA

- Price action now eyes daily cloud at 1.1679.

- RSI is biased higher and shows strength above 50 levels.

- Momentum studies bullish.

- We see +ve DMI crossover on -ve DMI and MACD is showing bullish crossover on signal line.

Support levels - 1.1560 (nearly converged 5-DMA and 110-EMA), 1.1535 (20-DMA), 1.1485 (trendline)

Resistance levels - 1.1640 (trendline), 1.1679 (daily cloud), 1.17

Recommendation: Good to go long on dips around 1.1580/90, SL: 1.1530, TP: 1.1640/ 1.1680/ 1.17.

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