Title
USDCHF Day I Bearish Drop
Type
Bearish Reversal
Preference:
Price rises toward the pivot point of 0.8902, an overlap resistance close to 78.6% Fibo retracement. A reverse from this level could lead the price to fall to 1st support at 0.8705, a pullback support level
Alternative scenario:
If the price breaks above the pivot, it could rise to 1st resistance at 0.9083, a swing-high resistance level
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.