Eurchfshort
EURCHF approaching major resistance, potential drop in price!EURCHF has bounced off its major resistance at 1.1567 (61.8%, Fibonacci extension , horizontal swing high resistance). A strong reaction could occur at this level, pushing price down to the next support level at 1.1483 (76.4% Fibonacci retracement , horizontal swing low support, 100% Fibonacci extension ).
Stochastic (55,5,3) is approaching major resistance at 96% along with a bearish divergence. A corresponding drop in price might occur.
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Losses can exceed the initial investment so please ensure you fully understand the risks
EURCHF - Intraday - Possible Double Top ReactionHere is a possible double top occurrence. This immediate resistance was tested Last Feb 21. When price reached this place it started a total sell-off bound to the major support. A further confirmation would somehow boost my confidence in entering this trade if the 4hr candle would close as a Doji.
Should this resistance stir a breakout. Its nearest resistance would be the DR1.
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