USDCHF, H4 bounced from our Pivot point, potential for a rise.
Description
Price bounced from our Pivot point at 0.89725 which is in line with 50% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.90095, a fibonacci confluence. It is worth noting that MACD is above the 0 line and price is above the Ichimoku clouds, in line with our bullish analysis.
Pivot: 0.89725
Why we like it:
50% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 0.89440
Why we like it:
-27% fibonacci retracement, 200% fibonacci extension and horizontal swing low support.
1st Resistance: 0.90095
Why we like it:
-27%, 241.4% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price bounced from our Pivot point at 0.89725 which is in line with 50% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.90095, a fibonacci confluence. It is worth noting that MACD is above the 0 line and price is above the Ichimoku clouds, in line with our bullish analysis.
Pivot: 0.89725
Why we like it:
50% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 0.89440
Why we like it:
-27% fibonacci retracement, 200% fibonacci extension and horizontal swing low support.
1st Resistance: 0.90095
Why we like it:
-27%, 241.4% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
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