There is a selling opportunity seen in the currency pair. At the Top the seller came in action pulling the price lower to close at day low. For the Next two day the pair followed the selling pressure and then for few days the stock was trading in a range and again selling pressure was resumed, the buyers tried their best to take the price to higher but they was not able to pullback the price at higher level which lead the price to make a new low. As per my understanding this were the last retail buyers in the market who were late to enter the market and trying to take the price higher so that they can earn from a small movementem.

The pair has closed below the fast as well as slow EMA's; as per EMA's study it's a good point to enter a position on the sell side as the pair is trading below the EMA.

The fast EMA is showing trend on the downside and slow is flatten, usually fast take time to react.

The RSI is following the price and we expect to follow ahead.

USD/CHF

Oct 23 2021