One week of upward movement was erased today at EURCHF. On Tuesday the price has reached weak resistance at 1.1100 and sharply fallen after two days of movement in side trend. Nearest support is located at 1.1010 level. After its breakout next targets for supply are located at 1.0960, 1.0900, 1.0860 area.

Alternatively if EURCHF returns to uptrend, important resistance will be at 1.1100.

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Time-frame H4

EURCHF-H4

Time-frame D1

EURCHF-D1

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Piotr Drabik
Author of worldtrader.pl blog and big supporter of technical analysis. Active medium-term trader. In his analysis uses classical charts, price action as well as harmonic patterns and Elliott Waves. In trading he always tries to take into account two points of market's view, in accordance with the principle that each transaction may be attractive both for the demand and supply traders.

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