USDCHF, H4 is approaching from our Pivot, potential for a drop.
Description
Price is reversing from our Pivot point at 0.91728, which is in line with 61.8%, 100% and 127% Fibonacci extension. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.91057, a fibonacci confluence. It is worth noting that the Stochastics is showing bearish momentum where price has reversed from the 98% level previously.
Pivot: 0.91728
Why we like it:
61.8%, 100% and 127% Fibonacci extension
1st Support: 0.91057
Why we like it:
127%, 61.8% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.92234
Why we like it:
88%, 127% and 200% Fibonacci extension.
Trading FX & CFDs carries high risk.
Price is reversing from our Pivot point at 0.91728, which is in line with 61.8%, 100% and 127% Fibonacci extension. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.91057, a fibonacci confluence. It is worth noting that the Stochastics is showing bearish momentum where price has reversed from the 98% level previously.
Pivot: 0.91728
Why we like it:
61.8%, 100% and 127% Fibonacci extension
1st Support: 0.91057
Why we like it:
127%, 61.8% fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.92234
Why we like it:
88%, 127% and 200% Fibonacci extension.
Trading FX & CFDs carries high risk.
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