On this chart we see price has retested a bearish trendline on the weekly chart several times
I see divergence on the daily chart and the 4H which indicates that price could reverse of of this level again and head lower
We will wait for support to be broken and the trendline to be retested before entry
We will be selling to the second support level which is marked...
Over the last 5 weeks EUR/CHF has hit 1.0507, 1.0508 and 1.0503 (current price as of weekend 16/5/2020).
It seems likely that this support line will eventually crumble and once it does there's little support for 200+ pips.
I poised with SELL STOP order placed at 1.0499 ready for what seems an inevitable break.
We may see another bounce before that but I expect it...
Market getting ready to change trend for a sell.
RSI signalling overbought at 75 reading.
Get in on buy and enjoy your profits.
Market often forms a double top/bottom to signal trend reversal so look out for that.
Warning; trading comes with risks, trade safely and within reason. All charts to be used for guideline purposes.