Hi,
I have another interestig chart on CHF, in the last few posts I mentioned the strong support line (refer to the chart below) that are very sensitive.
If you refer to the last week bar again we see an interesting testing of this support line. Unless there is a clear breakout below the support line (a full weekly bar) it is very hard for me to tell whether it will continue to go further down. Looking at the RSI (14) the oversold on weekly did not hit oversold level but hit the oversold on daily so trader might want to take further look on this pair within this two week.
If this pair continue to move downtrend then the closing wedge pattern will be broken and a strong downtrend will follow.
