#USDCHF, H4 is reversing from our Pivot, potential for a drop.
Description
Price is reversing from our Pivot point at 0.92042, which is in line with 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical resistance. We could potentially see price drop from our Pivot point towards our 1st support level at 0.91388, in line with our -27% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high. It is worth noting that price is under the descending trendline, in line with our bearish analysis.
Pivot: 0.92042
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical resistance
1st Support: 0.91388
Why we like it:
-27% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high
1st Resistance: 0.92327
Why we like it:
127% fibonacci retracement, 127% fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
Price is reversing from our Pivot point at 0.92042, which is in line with 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical resistance. We could potentially see price drop from our Pivot point towards our 1st support level at 0.91388, in line with our -27% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high. It is worth noting that price is under the descending trendline, in line with our bearish analysis.
Pivot: 0.92042
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical resistance
1st Support: 0.91388
Why we like it:
-27% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high
1st Resistance: 0.92327
Why we like it:
127% fibonacci retracement, 127% fibonacci extension 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.