EURCHF Rebound expected.

14 thg 12, 2023

The EURCHF pair stayed within the long-term Channel Down, got rejected on its top after our November 02 sell call (see chart below) and effectively hit our 0.941850 target:

Despite having more downside to drop it below Support 2, we expect a medium-term rebound as the 1D MACD is very close to posting a Bullish Cross, which within this Channel Down has been a buy signal that always sends the price back to at least the 0.5 Fibonacci retracement level. As a result we have an immediate target at 0.9545.

We can't overlook the potential for a Rectangle pattern emerging, with the price targeting Resistance 1, if it breaks above the 1D MA200 (orange trend-line).

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