EURCHF Bullish Divergence

EURCHF Bullish Divergence

Euro Fx/Swiss Franc
FX:EURCHF

DLavrov

The price bounced from 1.12000 support level with RSI confirmation. We have a bullish divergence which tells us about possible trend reversal. MACD lines support the upward movement. DMI is bearish but ADX line falls. It shows us that bears are no so strong now. If the price breaks the previous swing high, it will be an additional signal confirming the further upward movement. The price will be able to reach the resistance zone at 1.15000 level. The weekly chart looks oversold which is also good for buying based on the signals from the daily and lower timeframes. If the price continues the downtrend, it will be better to close long positions below the local swing low.
Source: TW DLavrov

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