Type: Bearish Drop
Resistance: 694'7
Pivot: 668'7
Support: 627'6
Preferred case: Price near pivot level of 668'7 in line with 61.8% Fibonacci retracement. Price can potentially drop to our 1st support of 627'6 in line with the 61.8% Fibonacci projection and 78.6% Fibonacci retracement. Our bearish bias is supported by stochastic indicator where it is near resistance level.
Alternative scenario: Alternatively , price may break pivot structure and head for 1st resistance at 694'7 in line with 100% Fibonacci projection, along with a graphical swing high resistance.
Fundamentals: No Major News
Resistance: 694'7
Pivot: 668'7
Support: 627'6
Preferred case: Price near pivot level of 668'7 in line with 61.8% Fibonacci retracement. Price can potentially drop to our 1st support of 627'6 in line with the 61.8% Fibonacci projection and 78.6% Fibonacci retracement. Our bearish bias is supported by stochastic indicator where it is near resistance level.
Alternative scenario: Alternatively , price may break pivot structure and head for 1st resistance at 694'7 in line with 100% Fibonacci projection, along with a graphical swing high resistance.
Fundamentals: No Major News