Conclusion for today’s EUR CHF Analysis:
The EUR CHF should resume the its bullish uptrend once the retracement from 1.14438 is complete.
September 10, 2018 to current date presents a sideways market action in the EURCHF, with November 27,2018 to January 24, 2019 forming a bottom reversal pattern known as the inverted Head and shoulders pattern or head and shoulders bottom.
Confirmation of the pattern occurred on January 29, 2019 at ~1.13435 and projection of the minimum target for the EURCHF is the distance from the head to neckline projected on top of the 1.13435 price level.
Retracement of price action after hitting a price high of 1.14438 on February 05, 2019 is not anticipated to terminate the current trend from January 03, 2019. Potential support level or region for the EURCHF is 1.13435 prior to the resumption of the bullish trend.
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