Swiss franc Futures (6S1!), H4 Potential for Bullish Rise
Type : Bullish Rise
Resistance : 1.04785
Pivot: 1.04350
Support :1.03890
Preferred Case: On the H4, with RSI is showing an ascending trend, and the price is consolidating now, we would hold a short term bullish bias that price may rise from the pivot at 1.04350 where the swing highs are to the 1st resistance at 1.04785 where the overlap resistance is.
Alternative scenario: Alternatively, price could drop to 1st support at 1.03890 where the 38.2% fibonacci retracement is.
Fundamentals: US CPI was out yesterday, which caused a big jump of the USD, the price may pullback after that.
Resistance : 1.04785
Pivot: 1.04350
Support :1.03890
Preferred Case: On the H4, with RSI is showing an ascending trend, and the price is consolidating now, we would hold a short term bullish bias that price may rise from the pivot at 1.04350 where the swing highs are to the 1st resistance at 1.04785 where the overlap resistance is.
Alternative scenario: Alternatively, price could drop to 1st support at 1.03890 where the 38.2% fibonacci retracement is.
Fundamentals: US CPI was out yesterday, which caused a big jump of the USD, the price may pullback after that.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results