FX.co ★ milford.mante | EUR/CHF

Pair EUR/CHF.

The Vertex indicator on February 23, during the peak of the European trading session, signaled that the currency pair was overbought, leading to a sharp decline in quotes. The confirmation of the indicator's signal occurred today, in the early hours of the European trading session. The 200 and 50 period moving averages are showing a strong downtrend, indicating a preference for opening sell positions. Sellers managed to form a 1-2-3 pattern, demonstrating their intention to continue moving quotes downwards. Additionally, sellers were able to confirm the 1-2-3 pattern by breaking through the 0.91226 level, indicating their strength. In this situation, I will wait for the price to pull back to the weekly pivot extension at 0.91345 and then open a sell position.