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Bullish Bias

EURCHF Bullish

Target: 1.1055

Good day traders! The EUR/CHF currency pair found support at the lower median line of a Schiff pitchfork on the 4th of September. Price then moved higher and struggled to break through my center median line.

After a short sell-off, price has yet again found support last week (black arrow) and bounced higher again.

Using an upward sloping Schiff pitchfork (in green) shows that last week’s low came in right at my lower median line. Price is currently trading slightly below my green center median line at 1.0959 and a push through that level could see EUR/CHF making a quick move towards the 1.0995 level or even higher towards 1.1055.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel November 18, 2019
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