Watching $EURCHF at current highs, feeling heavy.
I'm looking at $EURCHF around 0.94012 right now, specifically after that push to 0.94082 earlier. We've been grinding up, but the volume on this last leg feels a bit thin for a convincing breakout. To me, it looks like a potential re-test of resistance that could turn into a double top or at least a significant pullback if we can't sustain above 0.940. If it starts to dip back below 0.939, especially on any decent volume, I'd consider this whole move above 0.938 pretty much invalidated and expect a return to the lower range. It's just not convincing enough for me to believe we're heading to 0.945 in a straight line.
Yeah, I'm seeing something similar. The lack of conviction on this push higher is a bit concerning, makes you wonder if there's enough gas in the tank to really break through.