EURCHF - Multiple Patterns
EURCHF is showing short term strength approaching News and is possibly overextended and due for a pullback.
The shorter timeframe is displaying a Triangular pattern indicating a compression of volatility caused by uncertainty.
The larger timeframe exhibits a Head & Shoulders pattern which is a reversal pattern so could signify an end to the longer term EURCHF bearish run.
There is a bearish divergence on the MACD indicator on the 4 hour chart suggesting a decrease in momentum on the shorter timeframes.
The shorter timeframe is displaying a Triangular pattern indicating a compression of volatility caused by uncertainty.
The larger timeframe exhibits a Head & Shoulders pattern which is a reversal pattern so could signify an end to the longer term EURCHF bearish run.
There is a bearish divergence on the MACD indicator on the 4 hour chart suggesting a decrease in momentum on the shorter timeframes.
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