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Jul 29, 2024

EURCHF: Could Rise

EURCHF, Daily

EURCHFDaily.png

In the Daily timeframe, EURCHF was in a long-term uptrend after volatility fell to the trend line and bounced. Parabolic SAR indicates the possibility of a rise, and with the recent bounce from the trendline, we can expect further gains on a surge above MA200.

  • EURCHF could be considered for a buy on a break above 0.9600 resistance and MA200 with a target of 0.9650;
  • If the bulls push the price above 0.9650, the next target will be 0.9760;

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Egor Schmidt

Author: Egor Schmidt

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