#USDCHF, H4 approaching pivot, potential for a reversal!
Price is approaching pivot level of 0.90540, which is in line with 61.8% Fibonacci retracement level, 161.8% Fibonacci retracement level & horizontal overlap support. A reversal from this level may see price take resistance at price 0.92661. This level coincides with 61.8% Fibonacci retracement level, 100% Fibonacci extension level & horizontal overlap resistance. Finally, we can expect the price to take support at 0.89172, in line with 78.6% Fibonacci retracement level & horizontal overlap support. This is further supported by how MACD is holding above the 0 line.
Pivot:
0..90540
Why we like it:
61.8% Fibonacci retracement level, 161.8% Fibonacci retracement level & horizontal overlap support
1st Support:
0.89172
78.6% Fibonacci retracement level & horizontal overlap support
1st Resistance:
0.92661
61.8% Fibonacci retracement level, 100% Fibonacci extension level & horizontal overlap 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.