USDCHF, H4 bounced from our Pivot, potential for a rise.
Description
Price bounced from our Pivot point at 0.88735 which is in line with 38.2% 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 0.89131, a fibonacci confluence. It is worth noting that price is trending above the moving average, in line with our bullish analysis.
Pivot: 0.88735
Why we like it:
38.2% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.88503
Why we like it:
50%, 78.6%, 127% fibonacci retracement and horizontal swing low support.
1st Resistance: 0.89131
Why we like it:
78.6%, 88% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price bounced from our Pivot point at 0.88735 which is in line with 38.2% 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 0.89131, a fibonacci confluence. It is worth noting that price is trending above the moving average, in line with our bullish analysis.
Pivot: 0.88735
Why we like it:
38.2% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.88503
Why we like it:
50%, 78.6%, 127% fibonacci retracement and horizontal swing low support.
1st Resistance: 0.89131
Why we like it:
78.6%, 88% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap.
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.