The EUR/CHF pair registered a major downside movement but now it has shown some oversold signs. This does not necessarily mean that the price will turn to the upside, but personally, I will look for potential buying opportunities. Today, the Euro-zone and the Switzerland data came in mixed. 

 Photo by Claudio Schwarz on Unsplash

Unfortunately, the Euro-zone Final Manufacturing PMI dropped from 58.6 to 58.4 even if the specialists expected the indicator to remain steady at 58.6 points. In addition, the German Final Manufacturing PMI dropped unexpectedly from 57.6 to 57.4 points. 

Switzerland CPI 0.0% Growth

It remains to see what will really happen as the Switzerland Consumer Price Index registered a 0.0% growth in November versus 0.1% drop expected, while the Manufacturing PMI was reported lower at 62.5 versus 64.3 expected. 

Technically, the EUR/CHF dropped within a down channel. It continues to stay near the downside line. As you can see on the h4 chart, the pair registered only false breakdowns below the S1 (1.0406) signalling strong buyers in the short term. The price action developed a triangle pattern, an upside valid breakout from this formation could open the door for further growth. Also, a new higher high could bring fresh long opportunities.

Free Forex Signals – BUY EUR/CHF At 1.0449

(Click on image to enlarge)

Free Forex Signals Entry Price And Takes Profit

• Instrument: EUR/CHF
• Order Type: BUY STOP
• Entry price: 1.0449
• Stop Loss: 1.0387
• TP1: 1.0544
• My Risk: 1%
• Risk / Reward Ratio: 1: 1.5