Trading news

EURCHF: Trading mixed

EUR/CHF is still moving sideways in a choppy trading pattern. Yet, the pair has picked up a slight bullish trend with higher lows. Hourly resistance is given at 1.0762 (27/12/2016 high) while hourly support can be found at 1.0678 (21/12/2016 low). The medium-term pattern suggests us to see continued bearish pressures towards key support that can be found at 1.0623 (24/06/2016 low).

In the longer term, the technical structure remains positive. Resistance can be found at 1.1200 (04/02/2015 high). Yet,the ECB's QE programme is likely to cause persistent selling pressures on the euro, which should weigh on EUR/CHF. Supports can be found at 1.0184 (28/01/2015 low) and 1.0082 (27/01/2015 low).

On the other hand, EUR/GBP is back within former uptrend channel. Hourly resistance is given at 0.8854 (15/01/2017 high). The pair has broken 0.8600 which indicate further bearish momentum. The technical structure suggests that bullish pressures should continue.

In the long-term, the pair has largely recovered from recent lows in 2015. The technical structure suggests a growing upside momentum. The pair is trading above from its 200 DMA. Strong resistance can be found at 0.9500 psychological level.

AG Markets Review

Wednesday, 25 Jan, 2017 / 5:01

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Source : https://www.ag-markets.com/news/

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