USDCHF, H4 has reversed from our Pivot, potential for a drop.
Description
Price has reversed from our Pivot point at 0.92849, which is in line with 38.2%, 50% Fibonacci retracement and moving average resistance. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.92295, in line with 61.8%, 78.6% fibonacci retracement and horizontal swing low support. It is worth noting that price is trending under the moving average, in line with our bearish analysis.
Pivot: 0.92849
Why we like it:
38.2%, 50% Fibonacci retracement and moving average resistance
1st Support: 0.92295
Why we like it:
61.8%, 78.6% fibonacci retracement and horizontal swing low support
1st Resistance: 0.93268
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension level and horizontal swing high
Trading FX & CFDs carries high risk.
Price has reversed from our Pivot point at 0.92849, which is in line with 38.2%, 50% Fibonacci retracement and moving average resistance. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.92295, in line with 61.8%, 78.6% fibonacci retracement and horizontal swing low support. It is worth noting that price is trending under the moving average, in line with our bearish analysis.
Pivot: 0.92849
Why we like it:
38.2%, 50% Fibonacci retracement and moving average resistance
1st Support: 0.92295
Why we like it:
61.8%, 78.6% fibonacci retracement and horizontal swing low support
1st Resistance: 0.93268
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension level and horizontal swing high
Trading FX & CFDs carries high risk.
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