Looking at the last 12 candles on H1 we can see a triple top at a line of resistance at .9228/30 and the last 3 candles all have long wicks forming another triple top and if the current candle continues south, this will be a quadruple top.
Its clear that there is an almighty struggle for domination of this pair between the BULLS and the BEARS and with the fast MA moving down over the slow MA on H1 MACD and RSI now reading 55 whereas it was over 70, the suggestion is that EUR/CHF BEARS are taking control.
Adding to this analysis is The Andean Oscillator that now has the green BUY line under the signal line and the red SELL line climbing off zero and starting to head north.
All the technicals suggest we are headed lower so I'm SHORT with a hard STOP above the high at .9630 (13 pips).
Target for this trade is the 200 EMA at .9592 which is just below the WPP mid pivot.
As ever though , the target may change depending on momentum.
Its clear that there is an almighty struggle for domination of this pair between the BULLS and the BEARS and with the fast MA moving down over the slow MA on H1 MACD and RSI now reading 55 whereas it was over 70, the suggestion is that EUR/CHF BEARS are taking control.
Adding to this analysis is The Andean Oscillator that now has the green BUY line under the signal line and the red SELL line climbing off zero and starting to head north.
All the technicals suggest we are headed lower so I'm SHORT with a hard STOP above the high at .9630 (13 pips).
Target for this trade is the 200 EMA at .9592 which is just below the WPP mid pivot.
As ever though , the target may change depending on momentum.