#USDCHF, H4 is testing our Pivot, potential for a drop.
Description
Price is testing our Pivot point at 0.89406, which is in line with 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.89086, in line with our 127% fibonacci retracement and 100% fibonacci extension. It is worth noting that MACD is under the 0-line, in line with our bearish analysis.
Pivot: 0.89406
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.89086
Why we like it:
127% fibonacci retracement and 100% fibonacci extension
1st Resistance: 0.89734
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical resistance
Trading FX & CFDs carries high risk.
Price is testing our Pivot point at 0.89406, which is in line with 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.89086, in line with our 127% fibonacci retracement and 100% fibonacci extension. It is worth noting that MACD is under the 0-line, in line with our bearish analysis.
Pivot: 0.89406
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.89086
Why we like it:
127% fibonacci retracement and 100% fibonacci extension
1st Resistance: 0.89734
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension 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.