USDCHF, H4 bouncing from our Pivot point, potential for a rise.
Description
Price bounced from our Pivot point at 0.88889 which is in line with 38.2%, 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical resistance. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.89348. It is worth noting that the price is trending above an ascending trendline, Ichimoku cloud and MACD is above the 0 line, in line with our bullish analysis.
Pivot: 0.88889
Why we like it:
38.2%, 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical resistance
1st Support: 0.88595
Why we like it:
61.8% Fibonacci retracement, 100% fibonacci extension, horizontal graphical overlap and descending trendline support.
1st Resistance: 0.89348
Why we like it:
-27% fibonacci retracement and 100% fibonacci extension.
Trading FX & CFDs carries high risk.
Price bounced from our Pivot point at 0.88889 which is in line with 38.2%, 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical resistance. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.89348. It is worth noting that the price is trending above an ascending trendline, Ichimoku cloud and MACD is above the 0 line, in line with our bullish analysis.
Pivot: 0.88889
Why we like it:
38.2%, 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical resistance
1st Support: 0.88595
Why we like it:
61.8% Fibonacci retracement, 100% fibonacci extension, horizontal graphical overlap and descending trendline support.
1st Resistance: 0.89348
Why we like it:
-27% fibonacci retracement and 100% fibonacci extension.
Trading FX & CFDs carries high risk.
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