Here are the criteria:
1. The trendline
2. 2019 July high
3. Fibonacci Golden ratio
4. Fibonacci Extension
5. Daily EMA200
7. Channel Projection
8. The round number
9*. Wait for a bearish candlestick formation from the marked area.
Have a nice weekend,
CHFJPY appears to be losing momentum. The pair has bounced off historic levels and now posted a higher low. We now look towards 108.700 area, trendline and horizontal resistance. We are looking for a break and retest of this area before looking for a move to the upside.
CHFJPY expected to rise up to 1st resistance at 108.847 where it could potentially react off and drop down to 1st support at 107.932.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
The Trend Follower Strategy has just sold CHFJPY at 108.043. The system recommends entering this trade at any price between 107.908 and 108.178. The signal was issued because our Speculative Sentiment Index is extremely negative, with a value of 1.53. This suggests that the CHFJPY could be trending downwards.The 14-period Average True Range on a daily chart is...