USDCHF testing our Pivot point, potential for a rise.
Description
Price is testing our Pivot point at 0.88246 which is in line with 127% fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical support. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.88565. It is worth noting that the stochastics is showing bullish momentum where price has previously reacted off the 11% level.
Pivot: 0.88246
Why we like it:
127% fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical support
1st Support: 0.88088
Why we like it:
100% Fibonacci extension and -27% Fibonacci retracement.
1st Resistance: 0.88565
Why we like it:
88% Fibonacci extension, 61.8% fibonacci retracement and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price is testing our Pivot point at 0.88246 which is in line with 127% fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical support. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.88565. It is worth noting that the stochastics is showing bullish momentum where price has previously reacted off the 11% level.
Pivot: 0.88246
Why we like it:
127% fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical support
1st Support: 0.88088
Why we like it:
100% Fibonacci extension and -27% Fibonacci retracement.
1st Resistance: 0.88565
Why we like it:
88% Fibonacci extension, 61.8% fibonacci retracement and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
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