Type:
Bearish Drop
Key Levels:
Resistance: 1.35485
Pivot: 1.35485
Support: 1.34607
Preferred Case:
Prices are at a graphical overlap. We see the potential for a dip from our Pivot at 1.35328 in line with 38.2% Fibonacci retracement towards our Take Profit at 1.34607 in line with 61.8% Fibonacci retracement. RSI is at levels where dips previously occurred.
Alternative Scenario:
Alternatively, prices may climb to our 1st resistance at 1.35485 in line with 61.8% Fibonacci extension.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.