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USDCHF: Bears Protecting .98000!


Daily Time Frame: Starting on the daily we can see price is back at .98000 key psychological zone. Looking at the past, we can see price has rejected this resistance zone multiple times. Bears look like they are protecting this strong area. Simply by reading the candles, we can see how price closed off a daily rejection candlestick.

 

4Hr Time Frame: Scaling down, we can see price is ranging between .96000-.98000 key psychological. Notice how price has rejected and bounced off this zone. If price manages to come back for potential entries in confluence with signs of rejection then, we can look to sell this back down to .96000 daily support. However, if price manages to break through and close above, we can look to buy this up to .99000 key resistance. Due to uncertainty of market fluidity, risk management is highly recommended.


 

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