EUR/CHF analysis for April 8, 2021

Looking at the chart on the four-hour time frame, we see that the EUR/CHF  pair is now testing the 1.10150 level and opening up the bearish trend. Moving averages slowly shift to the bearish side by applying pressure from the top. By setting the Fibonacci retracement level, we see that we have broken the 23.6% level and descended towards the 38.2% level at 1,09950.

A break below that leads us to 1,09500 at 50.0% Fibonacci level. The MACD indicator is deep in the bearish territory and can still pull a couple down until we see the break of the blue MACD line with the signal line we are in a bearish trend.


On the daily time frame, we see the EUR/CHF pair retreating below the moving averages opening up a bearish trend heading towards the MA50 at 1.09700, looking at the previous low at 1.09500. after reaching the level of 1.11500, we see a pullback and the Euro’s inability to stay above 1.11000. A larger pullback is possible in this time frame as things now stand on the chart. Following the MACD indicator, we see that the bearish scenario is possible in the coming period as well because we can expect the MACD line to drop to the middle of the indicator supporting this trend.

EUR/CHFOn the weekly time frame, we see that the EUR/CHF pair, after touching the moving average of the EMA200 to 1.11500, is a real pullback to the current 1.10150 testing the MA200. Based on previous candlesticks, we could expect a further decline of the EUR/CHF pair to better support.

At this time frame target is, we can be 1,09150 previous lower high. Looking at the MACD indicator, we see that the blue line slows down and makes a turn towards the middle of the indicator directing us towards the red zone, confirming this beginning of the bearish trend.



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