#USDCHF, H4 is testing our Pivot point, potential for a drop.
Description
Price is testing our Pivot point at 0.88464 which is in line with our 23.6% Fibonacci retracement and horizontal graphical overlap. We could potentially see price drop towards our 1st support level at 0.88088, in line with 100% fibonacci extension and 127% fibonacci retracement. It is worth noting that price is trending under the EMA (34) and Ichimoku cloud.
Pivot: 0.88464
Why we like it:
23.6% Fibonacci retracement and horizontal graphical overlap
1st Support: 0.88088
Why we like it:
100% fibonacci extension and 127% fibonacci retracement.
1st Resistance: 0.88775
Why we like it:
61.8% Fibonacci extension, 88% Fibonacci retracement and horizontal graphical resistance.
Trading FX & CFDs carries high risk.
Price is testing our Pivot point at 0.88464 which is in line with our 23.6% Fibonacci retracement and horizontal graphical overlap. We could potentially see price drop towards our 1st support level at 0.88088, in line with 100% fibonacci extension and 127% fibonacci retracement. It is worth noting that price is trending under the EMA (34) and Ichimoku cloud.
Pivot: 0.88464
Why we like it:
23.6% Fibonacci retracement and horizontal graphical overlap
1st Support: 0.88088
Why we like it:
100% fibonacci extension and 127% fibonacci retracement.
1st Resistance: 0.88775
Why we like it:
61.8% Fibonacci extension, 88% Fibonacci retracement and horizontal graphical resistance.
Trading FX & CFDs carries high risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.