EURCHF - Heading back up to 1.13?

22 thg 6, 2019

EURCHF - It's finally hit the lower (blue) line of the descending wedge. Now we're looking at possible longs back up to 1.13. I'm personally going to wait for a little more confirmation, ideally after the first pullback. However as you can see with this pair, when it moves, it moves fast and constantly. 1.18 seems to be a point of support/resistance so anyone taking longs now, look out for this area. As it so happens 1.1866 lines up with the 0.618 fib zone from the previous down leg. I've copied a bar pattern from a previous up cycle from October 2018 to show what might happen.