EURCHF Bearish, SELL
EURCHF is looking good for a short, continuous down trend on higher time frames, with price reacting to the downtrened outlined in chart mark up. Additionally price is at a level of resistance, where it is acting positively. Fib shows us that price is additionally reacting to a key level,, again giving us an indication of the market staying bearish . recent wicks left on multiple time frame show heavy bottom candles, supporting the decision to short. Finally, the 500 EMA is at price. TP is set to a previous high where market has reacted, and SL the same. Note that if this trade fails, i will be looking for a break and retest of the oulined trend line, and then further indication that the market will be reversing upwards.
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