The analysis of the EUR/CHF for October 23, 2017

Recently, the EUR/CHF pair has been trading sideways for the price of 1.1600. On the 15M chart, I found a false breakout of pivot at the level of the price of 1.1593, which is a sign that selling looks risky. There is also a positive reading on the MACD oscillator, which is another sign of the potential strength. My advice is to look for a potential purchase opportuntiies. The trend to the upside targets are set at a price of 1.1629 (S1) and 1.1665 (S2, extreme intraday target).

Resistance levels:

R1: 1.1629

R2: 1.1665

R3: 1.1700

Levels of support:

S1: 1.1557

S2: 1.1521

S3: 1.1485

Trading recommendations for today: watch for potential buying opportunities.

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