USDCHF, H4 approaching our Pivot, potential for a drop.
Description
Price is approaching our Pivot point at 0.91607, which is in line with 78.6% fibonacci retracement, 100%, 127% fibonacci extension, moving average resistance and horizontal graphical overlap. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.90979, in line with the 61.8% fibonacci extension and horizontal swing low. It is worth noting that the price is under the moving average, in line with our bearish view.
Pivot: 0.91607
Why we like it:
78.6% fibonacci retracement, 100%, 127% fibonacci extension, moving average resistance and horizontal graphical overlap
1st Support: 0.90979
Why we like it:
61.8% fibonacci extension and horizontal swing low.
1st Resistance: 0.92091
Why we like it:
127% fibonacci retracement, 161.8% fibonacci extension and horizontal swing high.
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 0.91607, which is in line with 78.6% fibonacci retracement, 100%, 127% fibonacci extension, moving average resistance and horizontal graphical overlap. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.90979, in line with the 61.8% fibonacci extension and horizontal swing low. It is worth noting that the price is under the moving average, in line with our bearish view.
Pivot: 0.91607
Why we like it:
78.6% fibonacci retracement, 100%, 127% fibonacci extension, moving average resistance and horizontal graphical overlap
1st Support: 0.90979
Why we like it:
61.8% fibonacci extension and horizontal swing low.
1st Resistance: 0.92091
Why we like it:
127% fibonacci retracement, 161.8% 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.