Type: Bearish Momentum
Resistance: 7.475
Pivot: 6.900
Support: 6.310
Preferred Case: The H4 price is in a slightly descending trend with prices trading below the ichimoku . The price may drop form the pivot at 6.900 to the support at 6.310 where the 78.6% retracement and swing low sits
Alternative scenario: If there is a price reversal, it might test the 1st resistance at 7.475, where the 38.2% Fibonacci and 78.6% projection sits
Fundamentals: There are no major news.
Resistance: 7.475
Pivot: 6.900
Support: 6.310
Preferred Case: The H4 price is in a slightly descending trend with prices trading below the ichimoku . The price may drop form the pivot at 6.900 to the support at 6.310 where the 78.6% retracement and swing low sits
Alternative scenario: If there is a price reversal, it might test the 1st resistance at 7.475, where the 38.2% Fibonacci and 78.6% projection sits
Fundamentals: There are no major news.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.