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Forex Fundamental Analysis

Wed,14 Dec 2016-   TechnicalAnalysis

The previous working day high of the pair EURCHF was 1.07871 whereas previous day low was 1.07346. The price trend is showing an inverted head and shoulder pattern as evident from previous movement of candles. There is a high probability of there being a bullish trend breakout of this trend line, in this long trade opportunities can be availed by setting two target profits: one at 1.07871, if there is still bullish trend continuity second target profit can be set at 2.08471 (strong resistance level with reference to daily and hourly movement of candles) and further long trade can be continued in case of bullish trend continuity but in case of pullback counter short trade opportunities can be availed accordingly. News related to EUR: French final CPI, industrial production and CHF: ZEW economic expectations,PPI are due today.

Aimen Tayyab

Financial Analyst