EURCHF Possible retracement and new support

28 окт. 2022 г.

We'd a ascending channel with a resistance making higher highs, however the bottom line of support of the channel was crossed. So we put a horizontal support, to check what could happen to the price, and with this support we can see a possible retracement.

We can also see the EMA line is changing the direction. And about the MACD indicator, the support had already been touched and both lines are changing the direction

And if you zoom the chart, you'll the before the full body bullish candle we and an inverted hammer during the downtrend, so we have some informations where this trend could truly change the directions and go in a Long strategy