Title
USDCHF H4 | Bullish Rise
Type
Bullish Bounce
Preference:
The price is approaching the pivot level of 0.8856, an overlap support close to 61.8% Fibonacci retracement. A bounce at this level could cause the price to rise to 1st resistance at 0.8955, a swing-high resistance
Alternative Scenario:
If the price breaks above the pivot, it may rise to 1st resistance at 1.0608, 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.