EURCHF: Weekly Analysis & Trade – 19 May 2023
EURCHF: WEEKLY SCENARIO
EURCHF Technical Analysis: Weekly Chart
In the weekly charts, EURCHF is trading in an up channel. EURCHF is currently trading above all SMA except MA (5).
RSI is in the buying zone which indicates bullishness. MACD is currently below zero which indicates bearishness.
Its immediate support is 0.96000 the resistance level is at 1.02000
EURCHF will trade in an up channel until there is a trend reversal.
EURCHF Technical Analysis: Daily Chart
In the daily charts, EURCHF is trading in a down channel. EURCHF is currently trading below all SMA except MA (5)
RSI is in the neutral zone which indicates neutralness. MACD is currently below zero which indicates bearishness.
Its immediate support is 0.96500 the resistance level is at 0.97500
EURCHF will trade in a down channel until there is a trend reversal.
How to Trade EURCHF this Week:
EURCHF will follow the downtrend until its trend reversal. So, remain bearish on EURCHF. However, if it breaks the resistance level go bullish.
