USDCHF, H4 is reaching our Pivot point, potential for a bounce.
Description
Price is approaching our Pivot point at 0.88680, which is in line with our 61.8% Fibonacci retracement and horizontal graphical overlap. We could potentially see price rise from this level towards our 1st resistance level at 0.89052, in line with 61.8% fibonacci extension and horizontal graphical resistance. It is worth noting that price is trending above an ascending trendline, in line with our bullish analysis.
Pivot: 0.88680
Why we like it:
61.8% Fibonacci retracement and horizontal graphical overlap
1st Support: 0.88471
Why we like it:
78.6% fibonacci extension and 78.6% fibonacci retracement.
1st Resistance: 0.89052
Why we like it:
61.8% fibonacci extension and horizontal graphical resistance
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 0.88680, which is in line with our 61.8% Fibonacci retracement and horizontal graphical overlap. We could potentially see price rise from this level towards our 1st resistance level at 0.89052, in line with 61.8% fibonacci extension and horizontal graphical resistance. It is worth noting that price is trending above an ascending trendline, in line with our bullish analysis.
Pivot: 0.88680
Why we like it:
61.8% Fibonacci retracement and horizontal graphical overlap
1st Support: 0.88471
Why we like it:
78.6% fibonacci extension and 78.6% fibonacci retracement.
1st Resistance: 0.89052
Why we like it:
61.8% fibonacci extension and horizontal graphical resistance
Trading FX & CFDs carries high risk.
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