USDCHF, H4 is at our Pivot point, potential for a bounce.
Description
Price is at our Pivot point at 0.89106 which is in line with 23.6%, 78.6% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.89325, a fibonacci confluence. It is worth noting that price is above an ascending trendline and moving average, in line with our bullish analysis.
Pivot: 0.89106
Why we like it:
23.6%, 78.6% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.88917
Why we like it:
38.2%, 61.8% fibonacci retracement and moving average support.
1st Resistance: 0.89325
Why we like it:
127%, -27% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price is at our Pivot point at 0.89106 which is in line with 23.6%, 78.6% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.89325, a fibonacci confluence. It is worth noting that price is above an ascending trendline and moving average, in line with our bullish analysis.
Pivot: 0.89106
Why we like it:
23.6%, 78.6% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.88917
Why we like it:
38.2%, 61.8% fibonacci retracement and moving average support.
1st Resistance: 0.89325
Why we like it:
127%, -27% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
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