USDCHF, H4 broken beneath our Pivot, potential for a drop.
Description
Price has broken beneath our Pivot point at 0.91380, which is in line with 61.8%, 88% fibonacci retracement and horizontal graphical overlap. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.90926, in line with the 88% fibonacci extension. It is worth noting that the price is under the moving average and descending trendline, in line with our bearish trend.
Pivot: 0.91380
Why we like it:
61.8%, 88% fibonacci retracement and horizontal graphical overlap
1st Support: 0.90926
Why we like it:
88% fibonacci extension
1st Resistance: 0.91722
Why we like it:
Horizontal swing high, moving average and descending trendline resistance.
Trading FX & CFDs carries high risk.
Price has broken beneath our Pivot point at 0.91380, which is in line with 61.8%, 88% fibonacci retracement and horizontal graphical overlap. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.90926, in line with the 88% fibonacci extension. It is worth noting that the price is under the moving average and descending trendline, in line with our bearish trend.
Pivot: 0.91380
Why we like it:
61.8%, 88% fibonacci retracement and horizontal graphical overlap
1st Support: 0.90926
Why we like it:
88% fibonacci extension
1st Resistance: 0.91722
Why we like it:
Horizontal swing high, moving average and descending trendline 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.