thedailychartist

EURCHF moving lower?

Short
FX:EURCHF   Euro / Swiss Franc
After moving sideways for more than a day and 2 good attempts to break above the recent high, we seem to be seeing a selloff with some urgency. This could still be just a bear swing inside the the sideways range that we've been having since yesterday but a strong break and close of the hourly chart below 1.0945 may mean we will see the price lower with improved probability. Note that it's also possible that a break below 1.0945 may just be part of a broadening sideways range so caution is advised. We do have possible news event risks to consider today which could bring about whipsaws so for me it would be better to stay at the sidelines till Monday.

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