USDCHF, H4 bounced from our Pivot point, potential for a rise.
Description
Price approaching our Pivot point at 0.88825 which is in line with 50%, 61.8% Fibonacci retracement and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.89195, a fibonacci confluence. It is worth noting that MACD is above the 0 line, in line with our bullish analysis.
Pivot: 0.88825
Why we like it:
78.6% Fibonacci retracement, 50%, 100% fibonacci extension and horizontal graphical overlap
1st Support: 0.88553
Why we like it:
78.6%, -27% fibonacci extension and horizontal swing low support.
1st Resistance: 0.89195
Why we like it:
161.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price approaching our Pivot point at 0.88825 which is in line with 50%, 61.8% Fibonacci retracement and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.89195, a fibonacci confluence. It is worth noting that MACD is above the 0 line, in line with our bullish analysis.
Pivot: 0.88825
Why we like it:
78.6% Fibonacci retracement, 50%, 100% fibonacci extension and horizontal graphical overlap
1st Support: 0.88553
Why we like it:
78.6%, -27% fibonacci extension and horizontal swing low support.
1st Resistance: 0.89195
Why we like it:
161.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
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