USDCHF, H4 bounced from our Pivot, potential for a rise.
Description
Price bounced from our Pivot point at 0.88735 which is in line with 38.2% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.89131, a fibonacci confluence. It is worth noting that price is trending above the moving average, in line with our bullish analysis.
Pivot: 0.88735
Why we like it:
38.2% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.88503
Why we like it:
50%, 78.6%, 127% fibonacci retracement and horizontal swing low support.
1st Resistance: 0.89131
Why we like it:
78.6%, 88% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price bounced from our Pivot point at 0.88735 which is in line with 38.2% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.89131, a fibonacci confluence. It is worth noting that price is trending above the moving average, in line with our bullish analysis.
Pivot: 0.88735
Why we like it:
38.2% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.88503
Why we like it:
50%, 78.6%, 127% fibonacci retracement and horizontal swing low support.
1st Resistance: 0.89131
Why we like it:
78.6%, 88% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
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