#USDCHF, H4 is testing our Pivot, potential for a rise.
Description
Price is testing our Pivot point at 0.89923, which is in line with 61.8%, 78.6% fibonacci extension and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.90386, in line with our 88% fibonacci retracement and 100%, 161.8% fibonacci extension. It is worth noting that MACD is under the 0-line, in line with our bearish analysis.
Pivot: 0.89406
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.89086
Why we like it:
127% fibonacci retracement and 100% fibonacci extension
1st Resistance: 0.89734
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical resistance
Trading FX & CFDs carries high risk.
Price is testing our Pivot point at 0.89923, which is in line with 61.8%, 78.6% fibonacci extension and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.90386, in line with our 88% fibonacci retracement and 100%, 161.8% fibonacci extension. It is worth noting that MACD is under the 0-line, in line with our bearish analysis.
Pivot: 0.89406
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.89086
Why we like it:
127% fibonacci retracement and 100% fibonacci extension
1st Resistance: 0.89734
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical resistance
Trading FX & CFDs carries high risk.
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