USDCHF Potential for Bearish Continuation| 16th August 2022

On the H4, with prices moving below the ichimoku cloud hence we have a bearish bias that the price will continue with the bearish momentum. Price is now testing at the 78.6% Fibonacci projection as well as the previous swing low where our sell entry sits 0.9472. If bearish momentum continues, it should hit our take profit at 0.937 which also coincides with the Fibonacci 127.2% extension. If prices fail to break first support, it will hit our stop loss at 0.954 where the 61.8% fibonacci retracement and previous swing low sits.


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