EUR/CHF Symmetrical Triangle Pattern – Buying Trade in Play
Arslan Butt•Tuesday, March 16, 2021•1 min read
The EUR/CHF is trading with a bearish bias at 1.1050, gaining immediate support at the 1.1050 level. A bearish breakout of 1.1050 level can lead EUR/CHF price towards 1.1033 mark. While the bounce-off over 1.1050 can lead the price towards the 1.1070 level.
On the 4 hour timeframe, the pair has closed a tweezers bottom right above the double bottom level of support area of 1.1054 area. Therefore, we have opened a buying trade in EUR/CHF. Let’s capture quick 40 pips. Good luck!
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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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