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EUR/CHF 12.18 Analysis

EURCHF daily chart- It broke the (minor) support trendline yesterday with great volume suggesting a bearish trend formed.

Price now at 1.6550, 50% fib of Oct. 29 high to Nov. 23 low. Confluence with the 72EMA (purple line). I think price will bounce a bit from here before go down further.

Game Plan: If it make a upward correction today, and your positions reached breakeven, close it. Stay away from the market 'til the upper trendline (orange line) on the daily chart is broke. Lower trendline is a good level to start a long hedge, if you still have enough margin left to risk. But before that, watch out on 1.6500 to 1.6450 level, another minor support level before the lower trendline.