Forex: Evolution EUR CHF:
The EURCHF pair shows at a glance a marked downtrend on the daily chart. But for the short term are expected to be a small rise in resistance level of 1.3198 and whose support will be around to 1.2315.
You can see a bearish channel which began in mid-July last year.
A moving average analysis shows that there is a buy signal as it crossed the 5 periods of up to 12 periods and is expected to continue until levels close to 1.3198. Another indicator to consider is the RSI is in an area of 62.75 marks on your toes as close to the 70 level indicating a sell signal.
In conclusion, we can say that the marked downward trend EURCHF pair which has no signs of weakening in the medium term only small hikes can be expected to move in the bearish channel.
