AUD/CHF: Medium Term lower trending price tendency: lower low and lower high.
Breakdown of diagonal support, test of the break and new short impulse lower.
Price action signal - Pin bar at 50 ЕМА and resistance - Old support at 0.7658. Engulfing bar and possible break of a insdie bar with the potential of move lower.
CCI(50) below 0, CCI14 passing below 0 - Bearish formation
20 ЕМА is below 50 Ема, price is below both - negative formation
The Pin bar can be viewed as a test of the neck line of the formation H&S, which is formation for possible reversal of the direction, with potential for short move.
Possible sell after small correction of 7-9 pips and SL: 0.7674
Stefan D. Angelov - Head of Stocks Trading
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