USDCHF, H4 is at our Pivot point, potential for a drop.
Description
Price is at our Pivot point at 0.87964 which is in line with 23.6%, 50%, 61.8% fibonacci retracement, 50% Fibonacci extension and horizontal graphical resistance. We could potentially see price drop from our Pivot point towards our 1st support level at 0.87632. It is worth noting that the price is trending under the EMA (89) and descending trendline, in line with our bearish analysis.
Pivot: 0.87964
Why we like it:
23.6%, 50%, 61.8% fibonacci retracement, 50% Fibonacci extension and horizontal graphical resistance
1st Support: 0.87632
Why we like it:
78.6% Fibonacci extension, -27%, 161.8%, -27% and -27% Fibonacci retracement
1st Resistance: 0.88730
Why we like it:
23.6%, 61.8% fibonacci retracement and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price is at our Pivot point at 0.87964 which is in line with 23.6%, 50%, 61.8% fibonacci retracement, 50% Fibonacci extension and horizontal graphical resistance. We could potentially see price drop from our Pivot point towards our 1st support level at 0.87632. It is worth noting that the price is trending under the EMA (89) and descending trendline, in line with our bearish analysis.
Pivot: 0.87964
Why we like it:
23.6%, 50%, 61.8% fibonacci retracement, 50% Fibonacci extension and horizontal graphical resistance
1st Support: 0.87632
Why we like it:
78.6% Fibonacci extension, -27%, 161.8%, -27% and -27% Fibonacci retracement
1st Resistance: 0.88730
Why we like it:
23.6%, 61.8% fibonacci retracement and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
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