Dissipated by MACD negative divergence

Technically, the Swissy is still in a downtrend, according to the weekly and daily charts. That said, the 4 hour chart showed some strength last night, going into today's session. That was dissipated by MACD negative divergence well after the London open - facilitated by a spinning top at R1 (a resistance level).

A combo. of a common sense trendline break and Joe Cheung price projection, coming into today's session, offered up a cool 50 pips, before the divergence kicked in at 6 am ET.

See today's Chart at AM Video Review

-Peter R. Bain