EURCHF: Channel Down top. Sell.

9 Apr

EURCHF is approaching the top of the multi year Channel Down pattern with 1D on bullish technicals (RSI = 66.643, MACD = 0.006, ADX = 55.830) but with a weekly chart almost overbought. The 1D RSI has already posted its first LL which suggest an underlying Bearish Divergence. We turn bearish on this pair targeting the 0.5 Fibonacci (TP = 0.9600) like the previous corrective wave did.

See how our prior idea has worked out:

## If you like our free content follow our profile to get more daily ideas. ##

## Comments and likes are greatly appreciated. ##