Price is moving bearish after finding resistance at 0.98500 creating a double-top formation indicating that sellers are in control. Price has touched the trend resistance twice already on the third touch I suspect price will break above creating an opportunity for bulls to profit in the short counter trend as it leads to find resistance at the 0.97100 level from...
The Dollar has been strengthing against the Franc, having found resistance at the 0.98800 level price is now currently trading counter to the trend, sellers are pushing the price lower likely to the 0.97100 level which is correlated to the 50% Fibonacci retracement level on the daily time frame after finding support price may likely reverse to rise to the 1.00500 level
Price is moving in an overall downtrend, it seems likely that, price will push higher to respect the previous support (which is now a potential resistance) soon as price respects this level and a bearish signal is printed EURUSD will continue falling.
