•EURCHF under bullish pressure
• Further gains likely toward 1.1000
EURCHF has been under bullish pressure in the last few trading sessions – following the earlier upward reversal from the support area located between the key, long-term support level 1.0845 (which reversed the price numerous times in the middle of 2017, as can be seen from the weekly EURCHF chart below) and the lower weekly Bollinger Band. If the pair closes this week near the active levels it will form the weekly Japanese candlesticks reversal pattern Morning Star standing near the lower weekly Bollinger Band – strong buy signal for this currency pair. With the
weekly Stochastic in the oversold area – EURCHF is expected to rise further and test the next round resistance level 1.1000.
