In the last weeks, CHF (Swiss Franc) has been very weak against all the major currencies. Most likely there is more than one reason about it, including the SNB (Swiss National Bank) that has sold Swiss Francs and bought Euros (as it has often done in the last four and a half years).
Today I analyse Eur-Chf because it has reached an interesting level.
Primary Trade Setup: We see a price that has already struggled enough to go up. It may be time for a break. The price faces significant levels and dynamic resistance in 1 day, we expect confirmation of fatigue.
Secondary Trade Setup:
If the price decides to go up further without reaching our primary configuration then it would face our resistance in 1D. Let's...
RSI Indicator is showing a strong overbought signal on the 4H time frame which indicates incoming bearish movement. It has also approached the daily resistance level of 1.1470 - 1.1500 which may bounce back to the previous support level of 1.11500.
Trade Details :
SL : 1.1500
TP 1 : 1.1400
TP 2 : 1.1250
No encontramos en un canal próximo al 3er toque (Alto mas Bajo), con un retro del 79% del fibonacci, esperamos confirmaciones de ventas para entrar en cortos hasta completar canal, recuerden esperar la confirmación, ya que puede romper canal e irse al cielo!...
EURCHF made a triple top and has a lot of difficulties with breaking through for a new highest move.
So i go on a sell and set my TP on 1.13000.
Different indicators are triggering me also.