The regression trend of the past 3 years is shown with a clear tilt towards the south. If I had included a few years before, it would have been even more tilted. Currently, we are still near the upper bound despite the previous down turn, which suggests that the pattern from last year should repeat, especially that there's a strong Bollinger Band squeeze int he daily chart, which suggests an imminent major change. Also, RSI is relatively high, which means there is large room for going south. Moreover, Fibonacci time intervals coincides pretty perfectly with the 3 highlighted peaks which hit the resistance (upper green line) and rebounded heavily downwards to the other end. This time, I expect the same since it is also supported by the aesthetic analysis of the spirals.
One more point to support this position: in an event of a market crash, CHF rises heavily, and since I am expecting one in the coming weeks, I also expect the move south to be as quick as indicated in the forecast panel. It is also a safer hedging strategy. In case it doesn't go all the way south, a TP around 1.215 would be a backup plan.
One more point to support this position: in an event of a market crash, CHF rises heavily, and since I am expecting one in the coming weeks, I also expect the move south to be as quick as indicated in the forecast panel. It is also a safer hedging strategy. In case it doesn't go all the way south, a TP around 1.215 would be a backup plan.
