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New York Session Watch EURCHF

FX:EURCHF   Euro Fx/Swiss Franc
There’s a bearish pin bar candlestick pattern in the making on EUR/CHF             at the 1.2115 resistance level. This pin bar candlestick pattern also pierced through the upper end of the bollinger band and snaps back quickly. The long term trend is still bearish as all the short term moving averages are still below the 200 period long term moving average . The current support level is at 1.2080 and the resistance is at 1.2115. The Commodity Channel Index ( CCI ) also indicates that this market is overbought at the current price level which could lead the price lower in today’s New York             session. If this candle closes as it is right now or slightly lower, we will officially have a bearish pin bar candlestick pattern at this 1.2115 resistance level which could offer a high probability of shorting opportunities in today New York             session.
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