SynapseTrading

EUR/CHF (Daily Chart) - Confluence of Bearish Factors

Short
FX:EURCHF   Euro / Franco svizzero
This pair is probably one of the best shorts at the moment, with many bearish factors lining up.

Firstly, if you zoom out, you can see that it recently completed a bearish H&S reversal pattern, and after a successful breakdown, the price has now come back to test the breakout point.

Second, the breakout point is now a support turned resistance.

Lastly, prices are resisted by a minor bearish trendline and both the 20&50-day EMAs.

I am currently short the full size on this counter.

Good luck!

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