USDCHF, H4 is reaching our Pivot point, potential for a bounce.
Description
Price is approaching our Pivot point at 0.88680, which is in line with our 61.8% Fibonacci retracement and horizontal graphical overlap. We could potentially see price rise from this level towards our 1st resistance level at 0.89052, in line with 61.8% fibonacci extension and horizontal graphical resistance. It is worth noting that price is trending above an ascending trendline, in line with our bullish analysis.
Pivot: 0.88680
Why we like it:
61.8% Fibonacci retracement and horizontal graphical overlap
1st Support: 0.88471
Why we like it:
78.6% fibonacci extension and 78.6% fibonacci retracement.
1st Resistance: 0.89052
Why we like it:
61.8% fibonacci extension and horizontal graphical resistance
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 0.88680, which is in line with our 61.8% Fibonacci retracement and horizontal graphical overlap. We could potentially see price rise from this level towards our 1st resistance level at 0.89052, in line with 61.8% fibonacci extension and horizontal graphical resistance. It is worth noting that price is trending above an ascending trendline, in line with our bullish analysis.
Pivot: 0.88680
Why we like it:
61.8% Fibonacci retracement and horizontal graphical overlap
1st Support: 0.88471
Why we like it:
78.6% fibonacci extension and 78.6% fibonacci retracement.
1st Resistance: 0.89052
Why we like it:
61.8% fibonacci extension and horizontal graphical resistance
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.