EURCHF Short idea
Higher timeframe analysis shows strong bearish movement in this pair as well as good structure formation as price action has rejected the daily 38.2% fib level
Taking a closer look on the 4 hour timeframe we have seen higher lowers being broken and lower highs forming which suggests more bearish volume is coming
Based on 4hour fibs we’re looking for price action to keep pushing lower from the current level and/or retest the 4hour 38.2% fib level around 1.09640
From this area we’re looking for bearish setups to then target toward the -27.2% fib level around 1.09000 and potentially even lower toward our next major support levels
Higher timeframe analysis shows strong bearish movement in this pair as well as good structure formation as price action has rejected the daily 38.2% fib level
Taking a closer look on the 4 hour timeframe we have seen higher lowers being broken and lower highs forming which suggests more bearish volume is coming
Based on 4hour fibs we’re looking for price action to keep pushing lower from the current level and/or retest the 4hour 38.2% fib level around 1.09640
From this area we’re looking for bearish setups to then target toward the -27.2% fib level around 1.09000 and potentially even lower toward our next major support levels