Long

EURCHF medium-term Buy

The EURCHF pair has been trading on Lower Lows since June, below both the 1D MA200 (orange trend-line) and 1D MA50 (blue trend-line). However since June 29 and its Double Bottom, the 1D RSI started forming Higher Lows, indicating a Bullish Divergence. Being a similar structure to that of September - December 2021, we give higher probabilities of a medium-term rebound towards the 0.382 Fibonacci retracement level (1.000), even if one last low is made near 0.9600.

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