USDCHF, H4 approaching our Pivot point, potential for a bounce.
Description
Price approaching our Pivot point at 0.89142 which is in line with 78.6% Fibonacci retracement, 50%, 100% fibonacci extension and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.88895, a fibonacci confluence. It is worth noting that price is trending above the Ichimoku cloud and ascending trendline, in line with our bullish analysis.
Pivot: 0.89142
Why we like it:
78.6% Fibonacci retracement, 50%, 100% fibonacci extension and horizontal graphical overlap
1st Support: 0.88495
Why we like it:
88%, 127% fibonacci extension and horizontal swing low support.
1st Resistance: 0.90254
Why we like it:
50% fibonacci retracement, 61.8%, 78.6% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price approaching our Pivot point at 0.89142 which is in line with 78.6% Fibonacci retracement, 50%, 100% fibonacci extension and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.88895, a fibonacci confluence. It is worth noting that price is trending above the Ichimoku cloud and ascending trendline, in line with our bullish analysis.
Pivot: 0.89142
Why we like it:
78.6% Fibonacci retracement, 50%, 100% fibonacci extension and horizontal graphical overlap
1st Support: 0.88495
Why we like it:
88%, 127% fibonacci extension and horizontal swing low support.
1st Resistance: 0.90254
Why we like it:
50% fibonacci retracement, 61.8%, 78.6% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.