USDCHF, H4 bounced our Pivot, potential for a rise.
Description
Price has bounced from our Pivot point at 0.92453, which is in line with 78.6% fibonacci retracement, 127% fibonacci extension and horizontal swing low. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.93246, in line with 38.2%, 127%, -61.8% fibonacci retracement, 88% fibonacci extension and ascending trendline resistance. It is worth noting that price has broken the ascending trendline and may show a short-term pullback towards it.
Pivot: 0.92453
Why we like it:
78.6% fibonacci retracement, 127% fibonacci extension and horizontal swing low
1st Support: 0.92046
Why we like it:
161.8% fibonacci retracement, 161.8% fibonacci extension and horizontal graphical overlap.
1st Resistance: 0.93246
Why we like it:
38.2%, 127%, -61.8% fibonacci retracement, 88% fibonacci extension and ascending trendline resistance
Trading FX & CFDs carries high risk.
Price has bounced from our Pivot point at 0.92453, which is in line with 78.6% fibonacci retracement, 127% fibonacci extension and horizontal swing low. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.93246, in line with 38.2%, 127%, -61.8% fibonacci retracement, 88% fibonacci extension and ascending trendline resistance. It is worth noting that price has broken the ascending trendline and may show a short-term pullback towards it.
Pivot: 0.92453
Why we like it:
78.6% fibonacci retracement, 127% fibonacci extension and horizontal swing low
1st Support: 0.92046
Why we like it:
161.8% fibonacci retracement, 161.8% fibonacci extension and horizontal graphical overlap.
1st Resistance: 0.93246
Why we like it:
38.2%, 127%, -61.8% fibonacci retracement, 88% fibonacci extension and ascending trendline resistance
Trading FX & CFDs carries high risk.
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