USDCHF – Daily Forex Technicals by ForexHound.com May13th

Fibonacci ratios help us understand a bit better how important specific price levels are. Look at the chart below, USDCHF 4 hour, we can see the larger move down from 1.11 to 0.9650 and the pinpoint retracement move to the 61.8 Fib line that followed. Fibonacci ratios help us understand a bit better how important specific price levels are. Look at the chart below, USDCHF 4 hour, we can see the larger move down from 1.11 to 0.9650 and the pinpoint retracement move to the 61.8 Fib line that followed. Looking at the swing up we can once again spot the support offered by both a a trendline and a fibonacci line around the 1.03 and 1.0250 levels; both levels should be looked at carefully by both bearish and bullish traders as they’ll represent a good place to mark some profits from the shorts and perhaps start considering fresh longs.

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