USDCHF, H4 is bouncing from our Pivot, potential for a rise.
Description
Price is bouncing from our Pivot point at 0.89648, which is in line with 50% Fibonacci retracement, 50% Fibonacci extension and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.90140, a fibonacci confluence. It is worth noting that the price is above the ascending trendline, in line with our bullish analysis.
Pivot: 0.89648
Why we like it:
50% Fibonacci retracement, 50% Fibonacci extension and horizontal graphical overlap
1st Support: 0.88633
Why we like it:
-27% fibonacci retracement and 161.8% fibonacci extension
1st Resistance: 0.90140
Why we like it:
-27%, 127% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price is bouncing from our Pivot point at 0.89648, which is in line with 50% Fibonacci retracement, 50% Fibonacci extension and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.90140, a fibonacci confluence. It is worth noting that the price is above the ascending trendline, in line with our bullish analysis.
Pivot: 0.89648
Why we like it:
50% Fibonacci retracement, 50% Fibonacci extension and horizontal graphical overlap
1st Support: 0.88633
Why we like it:
-27% fibonacci retracement and 161.8% fibonacci extension
1st Resistance: 0.90140
Why we like it:
-27%, 127% 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.