USDCHF, H4 is testing our Pivot, potential for a drop.
Description
Price is testing our Pivot point at 0.93083, which is in line with 78.6%, -27% and 127% Fibonacci retracement. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.93005, in line with 50%, 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal swing low support. It is worth noting that stochastics is showing bearish pressure at the 96% level where price has previously reversed from, in line with our bearish analysis.
Pivot: 0.93083
Why we like it:
78.6%, -27% and 127% Fibonacci retracement
1st Support: 0.93005
Why we like it:
50%, 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal swing low support
1st Resistance: 0.93868
Why we like it:
161%, -61.8% fibonacci retracement and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Price is testing our Pivot point at 0.93083, which is in line with 78.6%, -27% and 127% Fibonacci retracement. We could potentially see price drop from our Pivot point towards our 1st Support level at 0.93005, in line with 50%, 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal swing low support. It is worth noting that stochastics is showing bearish pressure at the 96% level where price has previously reversed from, in line with our bearish analysis.
Pivot: 0.93083
Why we like it:
78.6%, -27% and 127% Fibonacci retracement
1st Support: 0.93005
Why we like it:
50%, 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal swing low support
1st Resistance: 0.93868
Why we like it:
161%, -61.8% fibonacci retracement and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
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