Simple Moving Average(SMA) 50-period (red), 200-period (bold, gray)
RSI-14 with Simple Moving Average 5-period of RSI attached.

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Elliott Wave Principles
Market and Price Action (patterns, candlesticks)
Intraday pivots and Intermediate-term support and resistance

Multiple Time-frame Analysis

EUR/CHF is Channeling Down; 1.27 is Key Support (2/28)

EUR/CHF
EUR/CHF

- The EUR/CHF could not break the 1.27 support. The momentum is resolving the oversold and bullish divergence setup, but the momentum is still relatively bearish as the 4H RSI remains below 60.
- The 1.2850 level appears to be the resistance for a double bottom that is forming.
- We can see a rally towards 1.2950 above 1.2850. However for a bullish scenario, it is preferable to see a throwback that respects the double bottom formation.
- The bullish scenario can be seen in the daily chart to go to the 1.33 level, which is a 61.8% retracement  of the downswing from November, and a channel resistance.
- Unless its for a very short time-span, shorting consideration should probably be either at 1.33, or below 1.27.
- However, if the market is bearish, it should find topping near 1.30 area.

EUR/CHF

Will the EUR/CHF rally towards the channel support in the daily chart near 1.33? We would love to hear what you think.
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