USDCHF, H4 has reversed from our Pivot, potential for a drop.
Description
Price has reversed from our Pivot point at 0.92849, which is in line with 38.2%, 50% Fibonacci retracement and moving average resistance. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.92295, in line with 61.8%, 78.6% fibonacci retracement and horizontal swing low support. It is worth noting that price is trending under the moving average, in line with our bearish analysis.
Pivot: 0.92849
Why we like it:
38.2%, 50% Fibonacci retracement and moving average resistance
1st Support: 0.92295
Why we like it:
61.8%, 78.6% fibonacci retracement and horizontal swing low support
1st Resistance: 0.93268
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension level and horizontal swing high
Trading FX & CFDs carries high risk.
Price has reversed from our Pivot point at 0.92849, which is in line with 38.2%, 50% Fibonacci retracement and moving average resistance. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.92295, in line with 61.8%, 78.6% fibonacci retracement and horizontal swing low support. It is worth noting that price is trending under the moving average, in line with our bearish analysis.
Pivot: 0.92849
Why we like it:
38.2%, 50% Fibonacci retracement and moving average resistance
1st Support: 0.92295
Why we like it:
61.8%, 78.6% fibonacci retracement and horizontal swing low support
1st Resistance: 0.93268
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension level and horizontal swing high
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.