Title
USDCHF H1 | Potential Bearish Drop?
Type
Bearish Reversal
Preference:
The price is currently at the pivot level of 0.8887, an overlap resistance.A reversal from this level could cause the price to fall to 1st support at 0.8846, an overlap support close to 50% Fibo retracement
Alternative Scenario:
If the price breaks above the pivot, it may rise to 1st resistance at 0.8916, an overlap resistance
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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.