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.
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.