USDCHF, H4 approaching our Pivot, potential for a reversal.
Price is approaching our Pivot point at 0.91869, which is in line with 61.8% Fibonacci retracement, 161.8% Fibonacci extension and horizontal pullback resistance. We could potentially see price reverse at our Pivot towards our 1st support level at 0.91084, in line with -27.2% Fibonacci retracement and 100% Fibonacci extension. It is worth noting that price continues to hold below both the descending trendline and moving average resistances, showing bearish pressure in line with our bearish bias.
Pivot: 0.91869
Why we like it:
61.8% Fibonacci retracement, 161.8% Fibonacci extension and horizontal pullback resistance
1st Support: 0.91084
Why we like it:
-27.2% Fibonacci retracement and 100% Fibonacci extension
1st Resistance: 0.92461
Why we like it:
127.2% Fibonacci retracement and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot: 0.91869
Why we like it:
61.8% Fibonacci retracement, 161.8% Fibonacci extension and horizontal pullback resistance
1st Support: 0.91084
Why we like it:
-27.2% Fibonacci retracement and 100% Fibonacci extension
1st Resistance: 0.92461
Why we like it:
127.2% Fibonacci retracement and horizontal swing high 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.