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LeoPrime Daily Market Analysis
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EURUSD currency pair recently reversed up from the support area surrounding the key support level 1.08100 (which stopped the previous sharp downward impulse wave (1) at the start of March) and the lower daily Bollinger Band. The upward reversal from this support zone started the active short-term corrective wave 2.To get more news about japannetbank, you can visit wikifx.com official website.
Given the rising bullish euro sentiment – EURUSD currency pair can be expected to rise further toward the next resistance level 1.09350 – the breakout of which will lead to further gains toward 1.100 (target for the completion of wave 2).
GBP/CHF: The British Pound held on above 1.27255 as indicated in yesterdays update and took out 1.27800 price target; however the Pound failed to continue to 1.28210 and fell to 1.26980 support during the overnight session. The pair managed to bounce at 1.26980 support in today’s session and has retained its position above 1.27255 support.Our forecast
GBP/CHF: The British Pound has now created a broader price range in the 60 minutes price chart from 1.27800 resistance to 1.26980 support. The pair could continue to re-test 1.27595 and 1.27800 if it remains above 1.27255 support. The pair could also pull back to 1.27255 and 1.26980 support if it fails at 1.27255.
Support/Short-127.255, 1.26980, and 1.26705
Resistance/ Long – 127.595, 1.27800, and 1.28210
The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
Chart 1: The short-term view of the GBP/CHF price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points