CHFJPY fib extension analysis
ABC fib extension analysis.
Bearish Scenario:
As of friday close (Sept 18) the pair has found support at the golden ratio 61.8. The pair could further weaken to find support at 78.6 which coincides with weekly support/resistance line. A further breakdown could result in a test of the 200 MA (red line)
Bullish Scenario:
If the support holds at 61.8% the pair could push to revisit 50% fib and then follow through to test the 50 MA (gold line)
Overall the pair has printed a lower low which could signal the start of a downtrend but not until a lower high is confirmed.
Good luck and always use a stop loss.
Bearish Scenario:
As of friday close (Sept 18) the pair has found support at the golden ratio 61.8. The pair could further weaken to find support at 78.6 which coincides with weekly support/resistance line. A further breakdown could result in a test of the 200 MA (red line)
Bullish Scenario:
If the support holds at 61.8% the pair could push to revisit 50% fib and then follow through to test the 50 MA (gold line)
Overall the pair has printed a lower low which could signal the start of a downtrend but not until a lower high is confirmed.
Good luck and always use a stop loss.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.