USDCHF Analysis 04/19/20
Overall on the weekly timeframe I can see that structure is very clearly bearish. Last week we closed with a spinning top which normally can signal reversal. The main timeframe I am drawing structure on is the daily. We’ve already respected 100% level, 88.6% level and now are looking to retest 78.6%. The H4 timeframe is bearish as well with lower timeframes turning bullish. There is a nice trend line in play right now with our point C lining up perfectly. If we break below 0.961000 we will be heading lower to potentially retest our key level.
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