#USDCHF approaching pivot, potential for a drop!
Description
Price is reacting below our pivot level at 0.91323 which is in line with 50.0% Fibonacci retracement level horizontal overlap resistance. Price can potentially take support at 0.90879, which is in line with horizontal swing low support, 100% Fibonacci extension level. Alternatively, price may rise up to our resistance at 0.91544, which coincides with horizontal swing high resistance, 127.2% Fibonacci extension level . This is further supported by how price is now holding below the Ichimoku cloud resistance.
Pivot:
0.91323
Why we like it:
50.0% Fibonacci retracement level horizontal overlap resistance
1st Support:
0.90879
Why we like it:
horizontal swing low support, 100% Fibonacci extension level
1st Resistance:
0.91544
Why we like it:
horizontal swing high resistance, 127.2% Fibonacci extension level
Trading FX & CFDs carries high risk.
Price is reacting below our pivot level at 0.91323 which is in line with 50.0% Fibonacci retracement level horizontal overlap resistance. Price can potentially take support at 0.90879, which is in line with horizontal swing low support, 100% Fibonacci extension level. Alternatively, price may rise up to our resistance at 0.91544, which coincides with horizontal swing high resistance, 127.2% Fibonacci extension level . This is further supported by how price is now holding below the Ichimoku cloud resistance.
Pivot:
0.91323
Why we like it:
50.0% Fibonacci retracement level horizontal overlap resistance
1st Support:
0.90879
Why we like it:
horizontal swing low support, 100% Fibonacci extension level
1st Resistance:
0.91544
Why we like it:
horizontal swing high resistance, 127.2% Fibonacci extension level
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.