USDCHF, H4 approaching our Pivot point, potential for a bounce.
Description
Price approaching our Pivot point at 0.89461 which is in line with 61.8%, 161.8% Fibonacci retracement, 127% fibonacci extension, Ichimoku cloud support and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.90055, a fibonacci confluence. It is worth noting that the price is in a bullish channel and is above the Ichimoku clouds, in line with our bullish analysis.
Pivot: 0.89461
Why we like it:
61.8%, 161.8% Fibonacci retracement, 127% fibonacci extension, Ichimoku cloud support and horizontal graphical overlap
1st Support: 0.89026
Why we like it:
88% fibonacci retracement, 200% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.90055
Why we like it:
23.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price approaching our Pivot point at 0.89461 which is in line with 61.8%, 161.8% Fibonacci retracement, 127% fibonacci extension, Ichimoku cloud support and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.90055, a fibonacci confluence. It is worth noting that the price is in a bullish channel and is above the Ichimoku clouds, in line with our bullish analysis.
Pivot: 0.89461
Why we like it:
61.8%, 161.8% Fibonacci retracement, 127% fibonacci extension, Ichimoku cloud support and horizontal graphical overlap
1st Support: 0.89026
Why we like it:
88% fibonacci retracement, 200% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.90055
Why we like it:
23.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
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