As we can see from the chart, the price is touching for the 5th time the above trendline of this downtrend channel. Let's see if the downtrend will be respected once again or not. Euro has appreaciated a lot over the last 3-4 months, might be the right moment for a natural pullback.
Always keep in mind it is a game of probabilities.
During the London session this morning we are seeing consistent strength in the Swiss Frank with all pairs increasing in value. Meanwhile the opposite is true for the Japanese Yen - all pairs are down making the Yen weak.
The result of strong vs weak is a trend. Our pick today is the CHF/JPY pair for a long position.