Weekly Analysis EURCHF 14TH - 18TH JAN 2019

EURCHF Currency Pair Analysis

This pair has been making lower highs and lower lows so we are clearly in a downtrend.  The pair bottomed as it formed a tweezer bottom and here we see the prices momentarily pause and bounce off the support zone.

The pair struggled to get to the support area and then we see a weakness in the downtrend as the pair approaches the support area and we see a doji and a strong bullish day.

The bearish trend has shifted its momentum as the break of the trend line. As you can see the market has broken the near term trend line and the market is retesting the support area. Will the market continue the downtrend or the market will bounce back up?

Summary

The break of the bearish trend line shows that the momentum of the bear has shifted. Formation of the morning star at the support level may hint a change in the investor sentiment. We will watch this pair for further price action and let the price guide us to make further trading decisions.

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