Nov 12, 2024
Trade ideas
USDCHF on the daily timeframe is currently being resisted by the pivot zone, rally-base-drop supply zone, 88% Fibonacci retracement level, and the trendline resistance. Again, the confluences are;
• Daily timeframe pivot resistance;
• Trendline resistance;
• Rally-base-drop supply zone;
• 88% of the Fibonacci retracement.
Analyst’s Expectations:
Direction: Bearish
Target: 0.86547
Invalidation: 0.88778
Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.
Author: Adetola-Freeman Ogunkunle
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