EUR/CHF bears just one pivot step away from 6-months lows to break long lasted range – Tunnel spreads for speculation and near month futures to hedge:
On intraday charts (4H charts), despite the upswings in the last couple of trading sessions, we traced out an engulfing bearish candle pattern at 1.0695 levels after testing resistance at 21SMA that evidences the weakness again in this pair.
Double top formation and breach of neckline: The bears managed amid price spikes have broken below the double top neckline at 1.07 levels.
Please be noted that the every attempts of upswings have constantly been hindered below SMAs, bears breaking major supports with bearish DMA crossover, current prices have gone below DMAs
If you’ve to plot weekly charts, the current swings are drifting in a narrow range, bears breaking major supports with bearish EMA crossover, current prices have gone below EMAs, downswings likely to break below long lasting range.
Consequently, it is spotted out that the downward convergence between price curve and leading oscillators. Almost same is the case on monthly plotting.
RSI and stochs of both timeframes signal selling interests, while weekly MACD signals the extension of the price declines.
For the daily trading, tunnel spreads are best suitable considering intraday technical indications. So, snap the rallies to deploy higher strikes in the binary puts while shorting lower strikes simultaneously.
Alternatively, at this juncture, contemplating lingering bearish indications, on hedging grounds we recommend shorting near-month month futures as the underlying spot FX likely to target towards 1.0539 levels in near run.
Writers in a futures contract are expected to maintain margins in order to open and maintain a short futures position.
On intraday charts (4H charts), despite the upswings in the last couple of trading sessions, we traced out an engulfing bearish candle pattern at 1.0695 levels after testing resistance at 21SMA that evidences the weakness again in this pair.
Double top formation and breach of neckline: The bears managed amid price spikes have broken below the double top neckline at 1.07 levels.
Please be noted that the every attempts of upswings have constantly been hindered below SMAs, bears breaking major supports with bearish DMA crossover, current prices have gone below DMAs
If you’ve to plot weekly charts, the current swings are drifting in a narrow range, bears breaking major supports with bearish EMA crossover, current prices have gone below EMAs, downswings likely to break below long lasting range.
Consequently, it is spotted out that the downward convergence between price curve and leading oscillators. Almost same is the case on monthly plotting.
RSI and stochs of both timeframes signal selling interests, while weekly MACD signals the extension of the price declines.
For the daily trading, tunnel spreads are best suitable considering intraday technical indications. So, snap the rallies to deploy higher strikes in the binary puts while shorting lower strikes simultaneously.
Alternatively, at this juncture, contemplating lingering bearish indications, on hedging grounds we recommend shorting near-month month futures as the underlying spot FX likely to target towards 1.0539 levels in near run.
Writers in a futures contract are expected to maintain margins in order to open and maintain a short futures position.
