EUR/CHF long accumulation ending. And now ?
Hi guys
Not a trading advice, but I've been following this pair for long.
The price is on the upper edge of the monthly downward channel, we've seen a long accumulation since few months now.
In the next days or weeks, the price should do a movement that will decide of the continuing trend :
- either a break out of upper downward channel(resistance), certainlly followed by pull back on it (becoming a support) and then moving back to uptrend.
- or the upper edge of the channel is rejecting the price, breaking the support level we've seen for last months and announcing more downtrend within the same channel.
What's your thought on this ?
Cheers
Not a trading advice, but I've been following this pair for long.
The price is on the upper edge of the monthly downward channel, we've seen a long accumulation since few months now.
In the next days or weeks, the price should do a movement that will decide of the continuing trend :
- either a break out of upper downward channel(resistance), certainlly followed by pull back on it (becoming a support) and then moving back to uptrend.
- or the upper edge of the channel is rejecting the price, breaking the support level we've seen for last months and announcing more downtrend within the same channel.
What's your thought on this ?
Cheers