EURCHF reversal?

Good morning Dynamic Traders,

The CADJPY head and shoulders mentioned on the 25th November post went sideways for a period of time but did complete the equivalent move down and yesterday reached a low of 73.90. This pair is still of interest but we need to wait for it to gather momentum and break previously established S/R levels before decisive action can be taken.

The EURCHF daily chart displayed below, shows signs of a reversal after getting very close to the 1.56 figure. It is worth noting the trendline support, a break of which would be a good signal.














I have also included a 60 minute chart showing another trendline and MACD adding another confluence. ESLT would be well utilised here on the BOB.















Good trading!
Bijal Shah

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