#USDCHF, H4 reversed from our Pivot, potential for a drop.
Description
Price has reversed from our Pivot point at 0.90045, which is in line with 50% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.89278, in line with the -27% fibonacci retracement, 161.8% 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: 0.90045
Why we like it:
50% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.89278
Why we like it:
-27% fibonacci retracement, 161.8% fibonacci extension and horizontal swing low
1st Resistance: 0.90467
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price has reversed from our Pivot point at 0.90045, which is in line with 50% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.89278, in line with the -27% fibonacci retracement, 161.8% 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: 0.90045
Why we like it:
50% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.89278
Why we like it:
-27% fibonacci retracement, 161.8% fibonacci extension and horizontal swing low
1st Resistance: 0.90467
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap.
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.