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99.2% That CHFJPY will Close This Week with a Weekly Bearish Candle!

11 December 2016, 08:33
Muhammad Elbermawi
Muhammad Elbermawi
1
215

99.2% That CHFJPY  will Close This Week with a Weekly Bearish Candle!

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On weekly graph it seem that CHFJPY main trend is bearish. The last weekly candle arrangement show a straight movement against the main trend, which increase the probability that CHFJPY will reverse soon to its main trend.

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CHFJPY last weekly candle high touch 76.4% (= 61.8% + 14.6%) retracement line from the last descending wave.

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Also, momentum indicators is at extreme over bought, and there is divergence in momentum for the last three weeks.

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