Forex EUR / CHF D1 Our expectations:
Breakthrough of a major diagonal of the bearish trend, gives grounds for searching for entry into long positions, the trend get tired and the price is forming a doubble bottom. In order to better positioning in the market, it is possible to wait for a test.
Price action: Engulfing at the level of dynamic support.
Indicators:
The price is directed to 23.6% Fibonacci.
Successful breakthrough and test of 50SMA.
DeMarker directs to overbought territory, sharp upward moves are possible.
Alternative Scenario: Reversing the price below 1.255 will probably lead to test of the bottom and new attempt by sellers to win over a short trend.
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