Title
USDCHF 4H | Drop From An overlap resistance
Type
Bearish Reversal
Preference:
The price is rising toward the pivot level at 0.90582, a reversal from this level could drive the price towards the 1st support at 0.89731, an overlap support.
Alternative Scenario:
If the price breaks above the pivot, it may rise towards the 1st resistance at 0.91347, which acts as a pullback resistance level.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.