A great opportunity for Shorting EURCHF
1) This is weekly EURO weighted averaged chart (to replicate, see the screenshot title). This chart shows the EURO value versus the other 7 major currencies. As it can be seen trend diverges the price trend. also is making lower lows where the price trend makes the higher high. Weaker EURO is what we need for our EURCHF Short trade.
3) This is Euro index. ( to replicate search for EUSTX50 ). Currencies and indices normally move against each other. For instance GBP and FTSE100, YEN and NIKKEI. Bellow if we have stronger Euro index that means cheaper Euro .
This is exactly what is happening.
4) Now let’s look at CHF. This is the weighted average CHF chart. After a significant fall in CHF value for the last a few weeks, it is sitting at a major support now. A bounce is expected now. I doubt it breaks lower as there is no major SNB news.
5) This is CHF chart. Again it is sitting at a major rising support now. A bounce is expected. Again great for our EURCHF Short trade.