USDCHF, H4 approaching our Pivot, potential for a drop.
Description
Price is approaching our Pivot point at 0.90576, which is in line with 61.8% fibonacci retracement, 61.8% fibonacci extension and moving average resistance. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.89754, 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: 0.90576
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension and moving average resistance
1st Support: 0.89754
Why we like it:
-27% fibonacci retracement, 161.8% fibonacci extension and horizontal swing low
1st Resistance: 0.91085
Why we like it:
61.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 0.90576, which is in line with 61.8% fibonacci retracement, 61.8% fibonacci extension and moving average resistance. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.89754, 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: 0.90576
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension and moving average resistance
1st Support: 0.89754
Why we like it:
-27% fibonacci retracement, 161.8% fibonacci extension and horizontal swing low
1st Resistance: 0.91085
Why we like it:
61.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.