Pipsfreq
Short

EUR/CHF - Short opportunities, channel down

FX:EURCHF   Euro / Swiss Franc
Downtrend continues, current price below Weekly PP = Looking for SELL trade! Nice strong bearish breakout weekly pp and resistance, retest and bounce. AO shows bearish momentum 1H and 4H chart.
Great idea on EURCHF, glad that we have the same bearish view. For our set up, we have identified key resistance and support levels. Price is approaching resistance at 1.1305, which is made up of two 100% Fibonacci extensions, 38.2% and 61.8% Fibonacci retracement. Should price react off this level, it might potentially go down to the major support level at 143.59, which is made up of a 100%Fibonacci extension , 76.4% Fibonacci retracement and a horizontal swing low support. Please take a look at our idea and let us know what you think.

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