USDCHF has been looking bearish for a while so why no drop?
USDCHF has been looking bearish for a while now. The monthly 231 SMA is in a negative trend on the monthly, with price moving sharply below it. This is an indication that we are resuming a downtrend. The 3 month chart also looks horrible, with bulls showing clear exhaustion.
The hourly chart now indicates that we might touch our resistance again and move below it from the point of the 231 SMA which is also moving negative along with the 77 sma. When the 21 SMA crosses under, we are given our short entry signal and the price might move to .97442.
Another indication is when price breaks the red line (21 day avg) with clear confidence.
The hourly chart now indicates that we might touch our resistance again and move below it from the point of the 231 SMA which is also moving negative along with the 77 sma. When the 21 SMA crosses under, we are given our short entry signal and the price might move to .97442.
Another indication is when price breaks the red line (21 day avg) with clear confidence.
Comment:
Makes no sense why this pair keeps going up even until now. Manipulation?
