uranti

Long term downtrend starting

Short
FOREXCOM:GBPCHF   British Pound / Swiss Franc
The monthly chart shows price trending down. Only for a moment it peaked above the EMA(50) what happened only once since the recorded data. The following month printed a bearish reversal candle just short of engulfing but it hasn't ended yet.
The weekly chart shows an uptrend. The price is now at its EMA(10) after a short pull-back. The reaction is muted though with no sign of a bounce and this may end up in further losses perhaps. Two dojis week by week.
The daily TF shows a break from a topping structure and LL and now a LH. More downside likely while the price stays below 10 and 20 EMA. The recent, this year's ascend was very quick, with nearly no pull-backs The price reached 78.6% retrace of the last larger monthly move where it reacted and later broke the level. Didn't manage to stay there for too long though. Now it broke down due to diminishing momentum (divergence). The fall may be just as quick.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.