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EURCHF H4 | Potential For A Drop

37439 eurchf h4 potential for a drop

Type: Bearish ReversalKey Levels:Resistance: 1.02414Pivot: 1.01996Support: 1.01906Preferred Case:With price moving below the Ichimoku cloud, we have a bearish bias that price will drop from our pivot at 1.01996 in line with the 38.2% Fibonacci retracement and horizontal overlap resistance to our 1st support at 1.00916 in line with the swing low support.Alternative Scenario:Alternatively, price may break pivot and head for 1st resistance at 1.02414 in line with the 50% Fibonacci retracement.

Source: Tickmill

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