Type: Bearish Momentum
Resistance: 1.01315
Pivot: 0.99670
Support: 0.95785
Preferred Case: On H4, as the price moving to test the descending trendlines , we have a bearish bias that the price may drop from the pivot at 0.99670, which is in line with the 23.6% fibonacci retracement to the 1st support at 0.95785 where the swing low is.
Alternative scenario: Alternatively, the price may rise to the 1st resistance at 1.01315, which is in line with the overlap resistance.
Fundamentals: There are no major news.
Resistance: 1.01315
Pivot: 0.99670
Support: 0.95785
Preferred Case: On H4, as the price moving to test the descending trendlines , we have a bearish bias that the price may drop from the pivot at 0.99670, which is in line with the 23.6% fibonacci retracement to the 1st support at 0.95785 where the swing low is.
Alternative scenario: Alternatively, the price may rise to the 1st resistance at 1.01315, which is in line with the overlap resistance.
Fundamentals: There are no major news.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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