Today, market has gained some points; however, the close was quite neutral.
There is not reliable technique to say if market will continue to fall or rally again. We should have our stop-loss orders placed and wait now.
I'm also not sure if there was daily sell signal generated or not (it's quite subjective now). Thus, staying aside might be a good idea now.
As per gmargtrader's request, the monthly and weekly CHFPLN charts are below:
Monthly chart does not tell us much - we have higher high just after lower low. Thus, by definition it is neither uptrend nor downtrend:
Weekly chart shows us primary downtrend:
As per weekly downtrend the odds are we will continue the fall; however, currencies can be very surprising and, thus I am always very cautious with those.
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