FX:EURCHF   Euro / Swiss Franc
as we can see here on the EUR/CHF chart that the market has been trending in a strong downtrend for a while now. while the market was trending downwards, lower lows where being created and support areas where being broken constantly. but now the market has a pullback with consolidation, to then follow back down to the previously tested support. unlike before the market has actually come down, tested the support line and was rejected and moved back to the upside. now with stong candle to the upside, we can hope to new potential market conditions and patterns. firstly because the is a low and crossing stochastic it means the market is oversold and we should look for buys, and if the market breaks through the resistance trend line we will be looking for buys into the new areas, or if the market gets rejected, we will be looking for potential sells and see if the market will carry on with its long term trend.
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