Hello, dear Traders! Hope trading is going very well in these troubling times! Finding opportunities to trade in these uncertain moments is also very hard.
EUR/CHF - long-term downtrend with Swiss's strength growing long since the Covid crisis. Price has touched down on the 200 MA after the last correction and here are two potential scenarios that may play out:
1. Price will bounce back to test the the upper trend line. But as they say: "Trend is your friend" and this will be just an opportunity to resume shorts within the downtrend. Demarker is showing that the price is in oversold zone, and ready for a last impulse down.
2. With the current Euro weakness and Swissy again appreciating with the uncertain risk environment, price drops trough the 200 MA without a retrace.
3. Overall, my expectations are for the pair to continue within the downtrend.
Stay safe, traders and profitable trading!
EUR/CHF - long-term downtrend with Swiss's strength growing long since the Covid crisis. Price has touched down on the 200 MA after the last correction and here are two potential scenarios that may play out:
1. Price will bounce back to test the the upper trend line. But as they say: "Trend is your friend" and this will be just an opportunity to resume shorts within the downtrend. Demarker is showing that the price is in oversold zone, and ready for a last impulse down.
2. With the current Euro weakness and Swissy again appreciating with the uncertain risk environment, price drops trough the 200 MA without a retrace.
3. Overall, my expectations are for the pair to continue within the downtrend.
Stay safe, traders and profitable trading!