Forex: EUR / CHF "Sell" with the trend.

06.02.2019 / 12:40

Rating:

EUR / CHF

Time frame: D1

Technical Analysis: The price has formed a pronounced formation "Triangle" in the direction of the main downward trend which has started on 20.04.18. For several days, the price was trying to break the resistance of the triangle, but without success, and thus formed the 4th point of the formation.

Indicators: The 200-day EMA moves tightly with the triangle resistance, and this is an additional indication that the resistance there is strong.

Since the 50-day EMA is below the price, for the time being, it indicates price support.

DeM - in over-bought values, which supports sales.

Aggressive Entry: Sell from current values with stop 1.1450

Conservative entry: Sell after the daily bar closes.

Alternative Scenario: If the price breaks the triangular formation, the price is expected to rise to the previous strong resistance which is at 1.1490.

Trader Milko Zashev

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Forex: EUR / CHF "Sell" with the trend.

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