With EUR/CHF hitting the road block of the WR1 pivot and as this coincides with the high of April 7th, there's a high liklihood that this pair will head south.
The current H1 candle is BEARISH and this follows 3 H1 doji (indecision) candles.
As all these candles have formed bang on the WR1 pivot we can get a SHORT tarde on with the STOP just above the WR1 Pivot so this trade has a 15 pip risk with a 60+ pip reward.
The H1 RSI has been reading between 65 and 74 for the last 18 candles and is currently 66 so the RSI is declining suggesting the BULLISH momentum is turning.
MACD on H1 is now BEARISH and although the Andean Oscillator is yet to catch up on H1, on the 30M time frame the BEARISH signal has been confirmed (as it it on all lower time frames).
NIce R/R on this trade with the target being either the 200 EMA on H1 or the the WPP Pivot which sits just below.
The current H1 candle is BEARISH and this follows 3 H1 doji (indecision) candles.
As all these candles have formed bang on the WR1 pivot we can get a SHORT tarde on with the STOP just above the WR1 Pivot so this trade has a 15 pip risk with a 60+ pip reward.
The H1 RSI has been reading between 65 and 74 for the last 18 candles and is currently 66 so the RSI is declining suggesting the BULLISH momentum is turning.
MACD on H1 is now BEARISH and although the Andean Oscillator is yet to catch up on H1, on the 30M time frame the BEARISH signal has been confirmed (as it it on all lower time frames).
NIce R/R on this trade with the target being either the 200 EMA on H1 or the the WPP Pivot which sits just below.