as we can see here on the EUR/CHF
chart that the market has been trending with a downward trend for a while now. with regular retracements and patterns to then have moves creating lower highs an lower lows. the current market state we can see that the market has had a retracement at a previously broken support area
and has now used it as a resistance area
. with also creating a strong double top
on the 0.382 fib level, showing a strong market rejection to hopefully see the momentum of the market to move lower. due to these market conditions, we are looking for the market to reach new and lower important levels where we can see how the market will react, and if we can follow the trend to lower areas.