Euro / Swiss FrancShort
EURCHF SELL
MONTHLY:
From a monthly perspective we are bearish seeking new highs although there is a lot of selling pressure.
WEEKLY:
From a weekly standpoint I measured the bearish impulse on Fibonacci retracement and there is strong resistance on the 61.8 line. Although the market is bullish on weekly it has been making new lows as oppose to highs on my indicators, suggesting hidden divergence in price. This confirms my resistance of the 61.8 line for a sell point.
DAILY:
Based on the daily price wants to make new highs within the channel. Momentum is still bullish so I would put a SELL LIMIT order at the top of the structure and take profit at bottom of daily structure where my FIBONACCI .5 and .382 line is located.
GOOD TRADING 📈
From a monthly perspective we are bearish seeking new highs although there is a lot of selling pressure.
WEEKLY:
From a weekly standpoint I measured the bearish impulse on Fibonacci retracement and there is strong resistance on the 61.8 line. Although the market is bullish on weekly it has been making new lows as oppose to highs on my indicators, suggesting hidden divergence in price. This confirms my resistance of the 61.8 line for a sell point.
DAILY:
Based on the daily price wants to make new highs within the channel. Momentum is still bullish so I would put a SELL LIMIT order at the top of the structure and take profit at bottom of daily structure where my FIBONACCI .5 and .382 line is located.
GOOD TRADING 📈
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