The EUR/CHF has reached the bearish trend line confluence and the price is overbought with ecs.Oscillator so we might see a drop.
1.1035-55 is the zone where the price should reject if it still wants to remain bearish. 1.1062 held the price from going up, and we could see a rejection — trend line with ecs. Oscillator dot show rejections so pay attention to 1.1022 as the first target. 1.1008 and 1.0994 are next if the trend holds. Only above 1.1080 we might see a deeper correction in the pair that might jeopardise the bearish trend.
The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Nenad Kerkez aka Tarantula FX
This article was originally posted on FX Empire
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