• Analytics
  • News and Tools
  • Market News
  • EUR/CHF to retest the 1.0915 June high after correction stops at the 1.0622 200-DMA – Commerzbank
EUR/CHF to retest the 1.0915 June high after correction stops at the 1.0622 200-DMA – Commerzbank
30.06.2020, 08:39

EUR/CHF to retest the 1.0915 June high after correction stops at the 1.0622 200-DMA – Commerzbank

FXStreet reports that EUR/CHF’s a-b-c correction has terminated ahead of the 55-day ma at 1.0622 and Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, now expects a retest of the 1.0915 June high.

“EUR/CHF has completed an a-b-c’ correction, which has halted ahead of the 55-day ma at 1.0622. This has held the downside and provoked recovery and we look for a retest of the 2018-2020 downtrend at 1.0873 this week and the 1.0915 June high. Initial resistance is the 200-day ma at 1.0750.” 

“A close above 1.0915 will target the 1.1058/75 October 2019 high and the 38.2% retracement down from the 2018 peak. Above here would target the 200-week ma at 1.1141.” 

“Below the 55-day would retarget the 1.0577 low and this guards the 1.0509/00 support (not favoured).”

© 2000-2020. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Feedback
Live Chat E-mail
Up
Choose your language / location