
$CHF the last 2 sessions has held above the 38.2 Fib @ 0.7875...We are seeing that the market is pausing for breath...Technical indicators currently are still pointing lower...but this could just been that the recent downward price action has alleivated the overbought conditions and we should then see the market move higher...
It is looking like buyers #traders are in at these lower levels...It is early doors currently so maybe this is why the Pivot Point is holding...Today the PP is at 0.7903 so we are right on it...
The 200 day M/A is at 0.7944 coinciding with our R2 @ 0.7946.so this should promise a area of good resistance..#proptrading .However if we take out this resistance especially on a close we would look for further strength towards 0.7970..A close above 0.7944/46 area would promote the buyers looking for further strength going into next week..
Failure to hold over 0.7875 puts a more bearish tone to the market leaving 0.7820 as the likely target the sellers should push it to.. Have a great weekend #FTMO #USDCHF #tradingpyschology #retailtrading #carolharmer #CharmerTrading

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