Type: Bearish Momentum
Resistance: 7.520
Pivot: 6.900
Support: 6.310
Preferred Case: The H4 price is in a downward trend. The price may drop form the pivot at 6.900 to the 1st support at 6.310 where the 78.6% retracement and swing low sits
Alternative scenario: If there is a price reversal, price will move to 7.520, where the 38.2% Fibonacci and 78.6% projection.
Fundamentals: There are no major news.
Resistance: 7.520
Pivot: 6.900
Support: 6.310
Preferred Case: The H4 price is in a downward trend. The price may drop form the pivot at 6.900 to the 1st support at 6.310 where the 78.6% retracement and swing low sits
Alternative scenario: If there is a price reversal, price will move to 7.520, where the 38.2% Fibonacci and 78.6% projection.
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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