Title
USDCHF H4 | Potential Bearish Reversal
Type
Bearish Reversal
Preference:
Price has reversed from our pivot at 0.9332 which is an overlap resistance. From there, price could drop down to 1st support at 0.9255
Alternative scenario:
On the other hand, if the price were to break above the pivot, it could push up to 1st resistance at 0.9365 which is slightly above 78.6% Fibonacci retracement
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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.