#USDCHF approaching pivot, potential for a drop!
Description
Price is reacting below our pivot level at 0.92016 which is in line with 127.2% Fibonacci extension level, 100% Fibonacci extension level & horizontal swing high resistance. Price can potentially take support at 0.9145, which is in line with horizontal overlap support, 61.8% Fibonacci retracement level. Alternatively, price may rise up to our resistance at 0.92285, which coincides with 127.2% Fibonacci extension level and horizontal overlap resistance . This is further supported by how price is likely to reverse off the RSI resistance level.
Pivot:
0.92016
Why we like it:
127.2% Fibonacci extension level, 100% Fibonacci extension level & horizontal swing high resistance
1st Support:
0.91450
Why we like it:
horizontal overlap support, 61.8% Fibonacci retracement level
1st Resistance:
0.92285
Why we like it:
127.2% Fibonacci extension level and horizontal overlap resistance
Trading FX & CFDs carries high risk.
Price is reacting below our pivot level at 0.92016 which is in line with 127.2% Fibonacci extension level, 100% Fibonacci extension level & horizontal swing high resistance. Price can potentially take support at 0.9145, which is in line with horizontal overlap support, 61.8% Fibonacci retracement level. Alternatively, price may rise up to our resistance at 0.92285, which coincides with 127.2% Fibonacci extension level and horizontal overlap resistance . This is further supported by how price is likely to reverse off the RSI resistance level.
Pivot:
0.92016
Why we like it:
127.2% Fibonacci extension level, 100% Fibonacci extension level & horizontal swing high resistance
1st Support:
0.91450
Why we like it:
horizontal overlap support, 61.8% Fibonacci retracement level
1st Resistance:
0.92285
Why we like it:
127.2% Fibonacci extension level and horizontal overlap resistance
Trading FX & CFDs carries high risk.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.