EURCHF -


On the weekly chart EURCHF has formed a Doji Evening bottom and reversal pattern – unless the price collapses before the Friday close resulting in a negative end to the week. The Doji Evening indicates a reversal which could take EURCHF to the resistance at around 0.72. A close above and parity is to be tested with a possible spike up to 10.01.
The bottom and reversal scenario is supported by divergence on RSI.


On monthly chart EURCHF has found support at the 0.618 Fibo retracement at 0.9657. The Shoulder-Head-Shoulder pattern described in previous analysis will still be intact if we get a bounce to around 1.00-1.01.


Source: Technical Update - EURCHF bottom and reversal pattern indicates rebound to around parity