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FxWirePro: EUR/CHF rejected at channel top, scope for downside resumption

EUR/CHF chart - Trading View 

Technical Analysis: Bias Bearish

GMMA Indicator

- Daily Charts: Major trend is neutral, minor trend is turning bearish

- Weekly Charts: Major and minor trends are neutral

Ichimoku Analysis

- Price action is below cloud and Tenkan Sen caps upside

- Chikou span is biased higher for the day

Oscillators

- Stochs and RSI are in neutral territory and do not show and overbought/sold pressures

- Stochs are showing a rollover from overbought levels and RSI is below the 50 mark

Bollinger Bands

- Bollinger bands show wide deviation and suggest high volatility 

Summary: EUR/CHF trades with a bearish bias. Rejection at cloud top has raised scope for further downside. Scope for dip till 200-DMA at 1.0883. Bearish invalidation only above daily cloud.
 

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