EURCHF 21 Dec 2023 on the weekly timeframe. It can be seen that the pair experienced bearish until it touches R1 and enters the kumo cloud on the ichimoku indicator. However, when referring to the stochastic indicator, it appears that the pair is in an saturated zone which may result in a trend reversal. If the bullish trend occurs as a result of oversold then go-long can be an option for traders. However, if the pair is unable to reverse the trend and continue bearish to break R1 then go-short is still an option. Study many indicators before making trading decisions.
