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FxWirePro: EUR/CHF Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis: Bias Bearish

GMMA Indicator

- Major and minor trend are strongly bearish 

Ichimoku Analysis

- Price action is well below the daily cloud

- Chikou span is showing a slight upside for the day

Oscillators

- Stochs and RSI show momentum is strongly bearish

- Stochs are at oversold levels, but no signs of reversal seen

Bollinger Bands

- Bollinger bands are starting to widen again after constriction

- Signals higher volatility for the pair ahead

Major Support Levels: 1.0362 (Lower BB), 1.0351 (July 2015 low), 1.0295 (June 2015 low)

Major Resistance Levels: 1.0380 (5-DMA), 1.04, 1.0410 (21-EMA)

Summary: EUR/CHF has tested levels unseen since since July 2015 and is poised for further downside. Bullish RSI divergence on the daily charts along with oversold conditions could see some minor pullbacks. 
 

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