USDCHF, H4 approaching our Pivot point, potential for a bounce.
Description
Price approaching our Pivot point at 0.89461 which is in line with 61.8%, 161.8% Fibonacci retracement, 127% fibonacci extension, Ichimoku cloud support and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.90055, a fibonacci confluence. It is worth noting that the price is in a bullish channel and is above the Ichimoku clouds, in line with our bullish analysis.
Pivot: 0.89461
Why we like it:
61.8%, 161.8% Fibonacci retracement, 127% fibonacci extension, Ichimoku cloud support and horizontal graphical overlap
1st Support: 0.89026
Why we like it:
88% fibonacci retracement, 200% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.90055
Why we like it:
23.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price approaching our Pivot point at 0.89461 which is in line with 61.8%, 161.8% Fibonacci retracement, 127% fibonacci extension, Ichimoku cloud support and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.90055, a fibonacci confluence. It is worth noting that the price is in a bullish channel and is above the Ichimoku clouds, in line with our bullish analysis.
Pivot: 0.89461
Why we like it:
61.8%, 161.8% Fibonacci retracement, 127% fibonacci extension, Ichimoku cloud support and horizontal graphical overlap
1st Support: 0.89026
Why we like it:
88% fibonacci retracement, 200% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.90055
Why we like it:
23.6% fibonacci retracement, 61.8% 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.