USDCHF 60 PIP SELL

2020年9月28日

Very strong 4hr resistance broke recently, in which was rejected x3. Furthermore we have now reached a significant 0.38 fib level in which i believe will act as a new HH and has begin to form some rejection. I can see the price therefore becoming bearish and reaching the previous resistance as now support for a HL, that also acts as a strong 0.50 fib support level. TP is set at 60 pips and the SL just above the previous higher high at 35. Unfortunately no clear evidence via the 200 EMA but the RSI (length=20) currently in oversold conditions resulting in further confirmation in the short.