THE MAIN AREA WE ARE FOCUSING ON IS THE RED CIRCLE AREA, COULD BE BEFORE COULD BE AFTER -ABC AND D STRUCTURE POTENTIALLY IN PLAY -THIS LINES UP PERFECTLY WITH MAJOR MONTHLY SUPPORT -FIB 0.618 RETRACEMENT -TARGETS WILL BE FIB LEVELS
THIS AREA IS MY MAIN FOCUS HERE -STRUCTURE TRADE I WILL BE WATCHING PA CLOSELY -POTENITIAL REVERSAL ZONE FOR MORE DOWNSIDE OR MAYBE A RETRACE -BUT BEAR IN MINE WE HAVE HAD A MASSIVE BEARISH MOVE -THIS COULD ME MORE DOWNSIDE OR TIME FOR A RETRACE
Right now we can see that the price has hit a key support level. I predict this will be the start of a bullish trend.
The chart shows the weekly chart of the USD/CHF currency pair, you can see that prices are sitting right below a very key area of 1.00. Prices have respected this area on the chart before and I am fully expecting the prices to respect this area again. if you zoom out this chart you will see a downtrend that has been in control of the market for a long time now....