#USDCHF, H4 approaching our Pivot, potential for a drop.
Description
Price is approaching our Pivot point at 0.90089, which is in line with 61.8% fibonacci retracement and horizontal graphical overlap. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.89432, in line with our -27% fibonacci retracement and 100% fibonacci extension. It is worth noting that the price is under the moving average, in line with our bearish view.
Pivot: 0.90089
Why we like it:
61.8% fibonacci retracement and horizontal graphical overlap
1st Support: 0.89432
Why we like it:
-27% fibonacci retracement and 100% fibonacci extension
1st Resistance: 0.90537
Why we like it:
127% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 0.90089, which is in line with 61.8% fibonacci retracement and horizontal graphical overlap. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.89432, in line with our -27% fibonacci retracement and 100% fibonacci extension. It is worth noting that the price is under the moving average, in line with our bearish view.
Pivot: 0.90089
Why we like it:
61.8% fibonacci retracement and horizontal graphical overlap
1st Support: 0.89432
Why we like it:
-27% fibonacci retracement and 100% fibonacci extension
1st Resistance: 0.90537
Why we like it:
127% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.