#USDCHF, H4 is bouncing from our Pivot, potential for a rise.
Description
Price is bouncing from our Pivot point at 0.92150, which is in line with 50% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical resistance. We could potentially see price bounce from our Pivot point towards our 1st resistance level at 0.92494, in line with our 61.8% fibonacci retracement, 127% fibonacci extension and horizontal swing high. It is worth noting that price has broken the ascending trendline, and may return for a retest.
Pivot: 0.92494
Why we like it:
61.8% fibonacci retracement, 127% fibonacci extension and horizontal swing high
1st Support: 0.91785
Why we like it:
78.6% fibonacci retracement, 100% fibonacci extension and horizontal swing low
1st Resistance: 0.92494
Why we like it:
61.8% fibonacci retracement, 127% fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
Price is bouncing from our Pivot point at 0.92150, which is in line with 50% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical resistance. We could potentially see price bounce from our Pivot point towards our 1st resistance level at 0.92494, in line with our 61.8% fibonacci retracement, 127% fibonacci extension and horizontal swing high. It is worth noting that price has broken the ascending trendline, and may return for a retest.
Pivot: 0.92494
Why we like it:
61.8% fibonacci retracement, 127% fibonacci extension and horizontal swing high
1st Support: 0.91785
Why we like it:
78.6% fibonacci retracement, 100% fibonacci extension and horizontal swing low
1st Resistance: 0.92494
Why we like it:
61.8% fibonacci retracement, 127% fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
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