EURCHF Massive Sell Signal forming

The EURCHF pair has been on a rise since the September 26 low, breaking above the 1D MA50 (blue trend-line) in the process. This formation resembles the February 07-10 2022 pattern both in candle terms and in 1D RSI, which as you see are identical.

The Feb pattern was eventually a top formation within the 0.5 - 0.382 Fibonacci retracement levels and subsequently a rejection followed that broke below the 1D MA50 and made a Lower Low on the -0.5 Fib extension. As a result, if the price breaks below the 0.382 Fib, we'd have a confirmed a bearish extension and we will target the 0.94100 Low of Sep 26. A break above the 1D MA200 (orange trend-line) would invalidate this pattern and target the upper Lower Highs trend-lines.



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