[ad_1]
Title
USDCHF H4 | Bearish continuation towards 1st support before bouncing off
Type
Bearish continuation
Preference:
Price is approaching our pivot point at 0.8526, which is at the 100% fibo projection level. We can expect a bearish continuation towards the 1st support, before reversing to the upside.
Alternative scenario:
The 1st support lies at 0.8437, which is at the -61.8% fibo expansion. The 1st resistance is at 0.8756, which is an overlap resistance.
To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% and 71% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
[ad_2]
Source link
