USDCHF, H4 approaching our Pivot, potential for a drop.
Description
Price is approaching our Pivot point at 0.91680, which is in line with 61.8% fibonacci retracement, 88% fibonacci extension, moving average resistance and horizontal graphical swing high. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.91172, in line with the 78.6% fibonacci extension. It is worth noting that the price is under the moving average, in line with our bearish trend.
Pivot: 0.91680
Why we like it:
61.8% fibonacci retracement, 88% fibonacci extension, moving average resistance and horizontal graphical swing high
1st Support: 0.91172
Why we like it:
78.6% fibonacci extension
1st Resistance: 0.91891
Why we like it:
100%, 127% fibonacci extension and horizontal swing high.
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 0.91680, which is in line with 61.8% fibonacci retracement, 88% fibonacci extension, moving average resistance and horizontal graphical swing high. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.91172, in line with the 78.6% fibonacci extension. It is worth noting that the price is under the moving average, in line with our bearish trend.
Pivot: 0.91680
Why we like it:
61.8% fibonacci retracement, 88% fibonacci extension, moving average resistance and horizontal graphical swing high
1st Support: 0.91172
Why we like it:
78.6% fibonacci extension
1st Resistance: 0.91891
Why we like it:
100%, 127% fibonacci extension and horizontal swing high.
Trading FX & CFDs carries high risk.
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