I do think this is a very interesting situation here on EURCHF.
-As we can see since 2018 EurChf is been moving into an aggressive down-trend and so far i do not see any strong reversal signs (Even a bigger problem for bulls is that bears took out the 2017 low).
-We can see a completed 1-5 elliott wave impulse and so far a failed classic ABC correction.
-Hidden Bearish Divergence on Weekly RSI.
-Multiple wicks at 1.08 area showing that bears in full control rejecting further bullish price action.
I want to add that a weekly candle closed below 1.06 would add a strong confirmation for confirmation that eurchf is heading to 0.98 and much lower if 0.98 area is not gonna hold, but lower is the new price discovery so interesting times ahead.
* If we will see more then two strong weekly closed candles above 1.093 then 1.115 should be in the cards.
-CryptonikLion
-As we can see since 2018 EurChf is been moving into an aggressive down-trend and so far i do not see any strong reversal signs (Even a bigger problem for bulls is that bears took out the 2017 low).
-We can see a completed 1-5 elliott wave impulse and so far a failed classic ABC correction.
-Hidden Bearish Divergence on Weekly RSI.
-Multiple wicks at 1.08 area showing that bears in full control rejecting further bullish price action.
I want to add that a weekly candle closed below 1.06 would add a strong confirmation for confirmation that eurchf is heading to 0.98 and much lower if 0.98 area is not gonna hold, but lower is the new price discovery so interesting times ahead.
* If we will see more then two strong weekly closed candles above 1.093 then 1.115 should be in the cards.
-CryptonikLion