USDCHF testing our Pivot point, potential for a rise.
Description
Price is testing our Pivot point at 0.88886 which is a Fibonacci confluence level and ascending trendline support. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.89236. It is worth noting that price is trending above the Ichimoku cloud and Ascending trendline support, in line with our bullish analysis. Lastly, the MACD line is above the 0 line.
Pivot: 0.88886
Why we like it:
61.8% Fibonacci retracement, 78.6% Fibonacci extension and ascending trendline support.
1st Support: 0.88634
Why we like it:
127% Fibonacci extension and horizontal swing low support.
1st Resistance: 0.89236
Why we like it:
78.6% Fibonacci extension,127.2% fibonacci retracement and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is testing our Pivot point at 0.88886 which is a Fibonacci confluence level and ascending trendline support. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.89236. It is worth noting that price is trending above the Ichimoku cloud and Ascending trendline support, in line with our bullish analysis. Lastly, the MACD line is above the 0 line.
Pivot: 0.88886
Why we like it:
61.8% Fibonacci retracement, 78.6% Fibonacci extension and ascending trendline support.
1st Support: 0.88634
Why we like it:
127% Fibonacci extension and horizontal swing low support.
1st Resistance: 0.89236
Why we like it:
78.6% Fibonacci extension,127.2% fibonacci retracement and horizontal swing high resistance
Trading FX & CFDs carries high risk.
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