Hi Traders! EURCHF bearish opportunity forming at the moment. A detailed analysis of this sell setup is as follows:
EURCHF H4 Chart:
On the H4 chart we have a downtrend line that has formed and the price is respecting it so far. Currently the price is nearing this dynamic resistance again. If we didn’t get a valid breakout here, we may then expect the price to respect this downtrend line and move lower. We also have a hidden bearish divergence which is already forming. We may now look for more bearish evidences on lower timeframes in order to join the bears.
EURCHF H1 Chart:
On the H1 chart we have two critical zones that has formed. Hence we may expect a bearish reversal to happen from these potential zones and the price to continue lower. Once the price reaches these critical zones look for evidences of bearish reversal and then start looking for sells.
Invalidation: If we get a valid breakout above the H4 downtrend line, then this setup will be invalidated (false breaks can be neglected).
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this sell setup then you can use any setup and strategy that you have in your arsenal to look for bearish moves and join this sell trade.
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