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...
Possible short position for EURCHF. Price is currently moving below both the 50 and 200 EMA , thus indicating a short bias. Price is currently in a huge downtrend spanning for the past few months as you can see with the trend line channel. I have put in a risky short position with a 35 pip stop loss to compensate for the already occurring downtrend so we can...
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.
