USDCHF, H4 has reversed from our Pivot, potential for a drop.
Description
Price has reversed from our Pivot point at 0.93083, which is in line with 78.6% Fibonacci retracement, 61.8% fibonacci extension and horizontal swing high. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.92668, in line with 78.6% fibonacci retracement, 100% fibonacci extension and horizontal swing low support. It is worth noting that price is trending within the bearish channel, in line with our bearish analysis.
Pivot: 0.93083
Why we like it:
78.6% Fibonacci retracement, 61.8% fibonacci extension and horizontal swing high
1st Support: 0.92668
Why we like it:
78.6% fibonacci retracement, 100% fibonacci extension and horizontal swing low support
1st Resistance: 0.93234
Why we like it:
127% fibonacci retracement, 78.6% fibonacci extension level and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Price has reversed from our Pivot point at 0.93083, which is in line with 78.6% Fibonacci retracement, 61.8% fibonacci extension and horizontal swing high. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.92668, in line with 78.6% fibonacci retracement, 100% fibonacci extension and horizontal swing low support. It is worth noting that price is trending within the bearish channel, in line with our bearish analysis.
Pivot: 0.93083
Why we like it:
78.6% Fibonacci retracement, 61.8% fibonacci extension and horizontal swing high
1st Support: 0.92668
Why we like it:
78.6% fibonacci retracement, 100% fibonacci extension and horizontal swing low support
1st Resistance: 0.93234
Why we like it:
127% fibonacci retracement, 78.6% fibonacci extension level and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
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