USDCHF approaching support, potential bounce!

٢٨ يناير ٢٠١٩

USDCHF is approaching our first support at 0.99211 (Horizontal pullback support, 100% fibonacci extension, 23.6% fibonacci retracement, Elliot wave structure) and a strong bounce might occur below this level pushing price up to our major resistance at 0.9988 (Horizontal swing high resistance).
Stochastic (34,5,3) is also approaching support and we might see a corresponding bounce in price should it bounce off this level.
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