Potential short term breakout and retracement from the October breakoutt to the downside but there is the possibility of another up move to 1.115. Howerver, I will take my chances with a small SL.
The EUR was strong the last two weeks, but comparing the major EUR pairs with the EUR/CHF pair shows that the rise was not as strong as with the other pairs.
I expect a small run higher (with all the CHF pairs being oversold) to the 618 or a double top at the 50 before continuing the move lower.
-On the daily we are still in a downtrend following a possible Gartley pattern and in overbought territory.
-On the 4h time frame we can see a retracement back to the 61.8 fib with a double top and also an RSI divergence with an overbought stochastic.
-On the 1h time frame we see an extension from the bottom to the 161.8 fib