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.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.