08.07.201406:19 Forex Analysis & Reviews: Intraday analysis of EUR/CHF for July 08, 2014

Long-term review

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EUR/CHF

The pair has been in the down trend from 1.2236 levels. The pair is trading below the short and near-term moving averages. On the previous week, the pair exactly touched the 20-week Sma and changed its direction again towards lower levels. This week the pair opened its trading in a bearish note opened higher at 1.2157. We recommend to go long only above 1.2157 as strong up move will intact only above 1. 2165 levels for an upside target 1.2187 levels (50-day Sma). On the down side, until the pair breaks 1.2157 and 1.2165, we can see some lower levels at 1.2150, 1.2145, 1.2139 and 1.2130. The major weakness will exist below 1.2132 for 1.2120 and 1.21 levels.

In a nutshell, weakness below 1.2150 will drive the pair towards the nearest lower levels and even more lower.

Intraday- cmp 1.2156

The pair is trading above the hourly moving averages. The trading pattern is framed between 1.2150-1.2165. Traders can buy above 1.2158 or safe traders can be only above 1.2165 for 1.2171, 1.2178 and 1.2191 levels. On the down side, the pair has support at 1.2150 a break below this, we can put some selling pressure up to 1.2140, 1.2130 and 1.21 levels. Bears may take the pair towards 1.2020 levels, if it breaks below 1.21 levels.

Sell only below 1.2150, buy above 1.2165

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