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Tickmill
Nov 12, 2018 3:03 AM

USDCHF approaching resistance, potential drop!  Short

U.S. Dollar/Swiss FrancFXCM

Description

USDCHF is approaching our first resistance at 1.0096 (horizontal swing high resistance, 61.8% fiboancci extension, 78.6% fibonacci retracment) and a strong drop might occur pushing price down to our major support at 0.9965 (horizontal swing low support, 100% fiboancci extension, 23.6% fibonacci retracment).
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price.
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