USDCHF - strong selling opportunity to catch 🔥

The higher time frames are looking extremely bearish based on the price action movement and that the both MA's are trending above it. On the daily time frame, we can see a nice rejection of the MA 20 suggesting strong bearish momentum with a consecutive three bearish candlesticks. The 4-hour bearish engulfing candlestick closure breaking and bouncing MA 20/50 confirms our entry and has a strong potential to drop further down to re-test previous bottom. 🔥