USDCHF, H4 approaching our Pivot, potential for a drop.
Description
Price is approaching our Pivot point at 0.90700, which is in line with 78.6% fibonacci retracement, 100% fibonacci extension and moving average resistance. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.89874, in line with our horizontal swing low. It is worth noting that the price is under the moving average, in line with our bearish view.
Pivot: 0.90700
Why we like it:
78.6% fibonacci retracement, 100% fibonacci extension and moving average resistance
1st Support: 0.89874
Why we like it:
Horizontal swing low
1st Resistance: 0.90973
Why we like it:
61.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 0.90700, which is in line with 78.6% fibonacci retracement, 100% fibonacci extension and moving average resistance. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.89874, in line with our horizontal swing low. It is worth noting that the price is under the moving average, in line with our bearish view.
Pivot: 0.90700
Why we like it:
78.6% fibonacci retracement, 100% fibonacci extension and moving average resistance
1st Support: 0.89874
Why we like it:
Horizontal swing low
1st Resistance: 0.90973
Why we like it:
61.8% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
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