Type : Bullish Rise
Resistance : 1.04550
Pivot: 1.03825
Support : 1.03400
Preferred Case: On the H1, price is moving above the ichimoku cloud which supports our bullish bias that price will rise from the pivot at 1.03825 where the swing low support, 61.8% fibonacci projection and 61.8% fibonacci retracement are to the 1st resistance at 1.04550 in line with the swing high resistance and 61.8% fibonacci projection.
Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support at 1.03400 in line with the swing low support and 100% fibonacci projection .
Fundamentals: The SNB surprised markets with a 50bps rate hike, taking policy rates to -0.25% which gives us a weak bullish bias.
Resistance : 1.04550
Pivot: 1.03825
Support : 1.03400
Preferred Case: On the H1, price is moving above the ichimoku cloud which supports our bullish bias that price will rise from the pivot at 1.03825 where the swing low support, 61.8% fibonacci projection and 61.8% fibonacci retracement are to the 1st resistance at 1.04550 in line with the swing high resistance and 61.8% fibonacci projection.
Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support at 1.03400 in line with the swing low support and 100% fibonacci projection .
Fundamentals: The SNB surprised markets with a 50bps rate hike, taking policy rates to -0.25% which gives us a weak bullish bias.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.