Hello Traders,
It appears the CHFJPY is setting up to make a pull-back to recent support. Hidden Bearish Divergence has formed on the 1D Price Chart/MACD. The MACD is quite far from the zero level as well so it has some room to move downwards. I am expecting a decline in price to around the 240-LMA. If the price closes below the triple MA's, the move may continue downwards.
Looking at the 8H, Bearish Divergence is forming on the Price Chart/MACD. Short-Entry consideration would be made when the lower-high is completed on the MACD.
Thanks for reading. If you liked my analysis, please give me a follow.
*The above is not investment advice but simply my analysis of the current market conditions*
It appears the CHFJPY is setting up to make a pull-back to recent support. Hidden Bearish Divergence has formed on the 1D Price Chart/MACD. The MACD is quite far from the zero level as well so it has some room to move downwards. I am expecting a decline in price to around the 240-LMA. If the price closes below the triple MA's, the move may continue downwards.
Looking at the 8H, Bearish Divergence is forming on the Price Chart/MACD. Short-Entry consideration would be made when the lower-high is completed on the MACD.
Thanks for reading. If you liked my analysis, please give me a follow.
*The above is not investment advice but simply my analysis of the current market conditions*