EURCHF SELL-27.10.2017Hello Guys,
Matter of fact, the Euro depreciation just begun. If you didn't catch that surge down , don't panic. Next week will offer better entries as more and more people jump, the EUR will jerk up a little bit before continuing with the plunge.
Two technical considerations advised my entry:
1. Notice that bear divergence pattern over the last 20 trading days or so. As EURCHF prices moved up, stochastics were trending down.
2. There is a stochastic sell signal in the monthly and the daily charts. That double bar bear reversal pattern in the daily chart after yesterday's ECB taper announcement triggered bears.
So, right now just watch price action. If you sell now, you won't be entering at best prices. Chill out and get better entries which guarantee good risk reward ratios next week.
Overly, 500 pips is what we should be aiming at in this currency pair especially if there is a break below that support trend line in the daily chart.
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