FxWirePro: No traces of momentum in EUR/CHF sideway trend but traction for bearish space – Stay short via tunnel spreads

On intraday charts (4H charts), despite the up and downswings in the last couple of trading sessions, the price behaviour remain between channel resistance and support that seemed a bit sloping amid the traces of sorts of engulfing bullish and bearish candle patterns.

Please be noted that the every attempts of upswings have constantly been hindered below 7&21SMAs, bears sliding through major supports with bearish SMA crossover, for now, the current prices have gone below SMAs.

If you’ve to plot weekly charts, the current swings are drifting in narrow range, the bears breaking major supports (1.0855 & 1.0729) with bearish EMA crossover, current prices have gone below EMAs, downswings unlikely to break below long lasting range as we don’t see favourable bearish convergence.

It is spotted out that the downward convergence between price curve and leading oscillators on intraday charts but not on weekly terms. Almost same is the case on monthly plotting.

As there are no clarity of signals of selling interests from RSI and stochs on weekly timeframe, while weekly MACD also signals no clarity in direction.

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 (1.0715) while shorting lower strikes (1.0700) simultaneously.