After being bearish for several weeks, EURCHF seems to have found a strong level of support. The H4 chart’s price action shows that the price has been within a horizontal range. The price is right in the middle of the horizontal range. It may have more bounces and rejections and eventually take time to make a breakout.
However, traders must be eagerly waiting to see which way the next breakout takes place. Will the price keep going towards the downside by making a breakout at the support level or will it go towards the North by making an upside breakout at the resistance level?
Let us have a poll on this.
Scenario 1: The price will go towards the downside by making a breakout at the support level.
Scenario 2: The price will go towards the upside by making a breakout at the resistance level.
