#USDCHF approaching pivot, potential for a drop!
Description
Price is reacting below our pivot level at 0.91888 which is in line with 61.8% Fibonacci extension levelhorizontal swing low support. Price can potentially take support at 0.91526, which is in line with 38.2% Fibonacci retracement levelhorizontal pullback resistance. Alternatively, price may rise up to our resistance at 0.92142, which coincides with horizontal swing high resistance . This is further supported by how price is now holding below the Ichimoku cloud resistance.
Pivot:
0.91888
Why we like it:
61.8% Fibonacci extension levelhorizontal swing low support
1st Support:
0.91526
Why we like it:
38.2% Fibonacci retracement levelhorizontal pullback resistance
1st Resistance:
0.92142
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is reacting below our pivot level at 0.91888 which is in line with 61.8% Fibonacci extension levelhorizontal swing low support. Price can potentially take support at 0.91526, which is in line with 38.2% Fibonacci retracement levelhorizontal pullback resistance. Alternatively, price may rise up to our resistance at 0.92142, which coincides with horizontal swing high resistance . This is further supported by how price is now holding below the Ichimoku cloud resistance.
Pivot:
0.91888
Why we like it:
61.8% Fibonacci extension levelhorizontal swing low support
1st Support:
0.91526
Why we like it:
38.2% Fibonacci retracement levelhorizontal pullback resistance
1st Resistance:
0.92142
Why we like it:
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.