USDCHF Potential for Bearish Drop

2022년 8월 23일

On H4, as the price is going with the long term descending trendline, we have a bearish bias that the price may drop from the sell entry at 0.96581, which is in line with the previous swing high to the the take profit at 0.95490, where the 38.2% fibonacci retracement is. Alternatively, the price may rise to the stop loss at 0.97357, where the previous swing high is. Take note there is a short term ascending trendline, if the price break the ascending trendline, we could further confirm that the price would drop to the take profit.

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