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EURCHF Price Analysis Suggests Potential Resumption of Uptrend – 18-6-2024

by Jennifer

The EURCHF price has concluded its corrective bearish rebound upon encountering additional support at 1.4685, subsequently rallying above the MA55. This development serves to bolster positive stability in upcoming trading sessions.

Furthermore, stochastic indicators exiting oversold territories increase the likelihood of gaining positive momentum, thereby initiating bullish attempts. The initial target for such a bullish movement is projected at 1.4880, with the possibility of surpassing this level to reach the subsequent main target at 1.4880.

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Expected Trading Range

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Today’s trading range is expected to oscillate between the support level of 1.4700 and the resistance level of 1.4800.

Trend Forecast: Bullish

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