USDCHF, H4 is testing our Pivot point, potential for a drop.
Description
Price is testing our Pivot point at 0.88760, which is in line with our 61.8%, 76.4% Fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap. We could potentially see price drop towards our 1st support level at 0.88340, in line with 61.8% fibonacci extension and 78.6% fibonacci retracement. It is worth noting that price is trending under the EMA (55) and descending trendline.
Pivot: 0.88760
Why we like it:
61.8%, 76.4% Fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap
1st Support: 0.88340
Why we like it:
61.8% fibonacci extension and 78.6% fibonacci retracement.
1st Resistance: 0.88908
Why we like it:
100% Fibonacci extension, 78.6% Fibonacci retracement and horizontal graphical resistance.
Trading FX & CFDs carries high risk.
Price is testing our Pivot point at 0.88760, which is in line with our 61.8%, 76.4% Fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap. We could potentially see price drop towards our 1st support level at 0.88340, in line with 61.8% fibonacci extension and 78.6% fibonacci retracement. It is worth noting that price is trending under the EMA (55) and descending trendline.
Pivot: 0.88760
Why we like it:
61.8%, 76.4% Fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap
1st Support: 0.88340
Why we like it:
61.8% fibonacci extension and 78.6% fibonacci retracement.
1st Resistance: 0.88908
Why we like it:
100% Fibonacci extension, 78.6% Fibonacci retracement 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.