USDCHF Analysis May 24, 2020

FX:USDCHF   U.S. Dollar / Swiss Franc
On the monthly timeframe we are still below our moving averages showing bearish sentiment. On the weekly timeframe we close the past two weeks with doji candles showing signs of reversal. On the daily timeframe is where we have our overall fibs. We are currently retesting the 78.6% area with potential to retest a previous LH. Overall we are bearish on the timeframe! On the H4 timeframe we are bearish and waiting for the next LH to form. We are currently retesting resistance with multiple confirmations including fibs and h4 bearish engulfing . I will bump down to the lower timeframe to look for entry opportunities!


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