EUR/CHF approaching resistance, potential drop!

EURCHF is approaching our first resistance at 1.1246 (horizontal pullback resistance, 100% Fibonacci extension , 23.6% Fibonacci retracement ) where a strong drop might occur below this level pushing price down to our major support at 1.1168 (horizontal swing low support). Stochastic is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.

The material has been provided by InstaForex Company - www.instaforex.com

EUR/CHF approaching resistance, potential drop!

EUR/CHF is approaching our first resistance at 1.1260 (horizontal pullback resistance, 61.8% Fibonacci extension, 23.6% Fibonacci retracement) where a strong drop might occur below this level to our major support at 1.1182.

Ichimoku cloud is also showing signs of bearish pressure. Trading CFDs on margin carries high risk. Losses can exceed the initial investment, so please ensure you fully understand the risks.

The material has been provided by InstaForex Company - www.instaforex.com

EUR/CHF approaching resistance, potential drop!

The EUR/CHF pair is approaching our first resistance at 1.1369 (horizontal swing high resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing the price down to our major support at 1.1332 (61.8% Fibonacci retracement).

Stochastic (21,5,3) is also nearing resistance where we might see a drop in price.

Trading CFDs on margin carries high risk. Losses can exceed the initial investment, so please ensure you fully understand the risks.

The material has been provided by InstaForex Company - www.instaforex.com