CAD/CHF forming a major reversal signal, time to sell

The price has formed a bearish bat formation and also sees strong resistance at 0.7879 (Fibonacci retracement, horizontal swing high resistance, bearish divergence) and we expect to see a strong reaction off this level to push the price down to at least 0.7732 support (Fibonacci retracement, horizontal swing low support).

Stochastic (34,5,3) is seeing major resistance at 97% and also bearish divergence vs price signaling that a reversal is impending.

Sell below 0.7879. Stop loss is at 0.7965. Take profit is at 0.7732.


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