Description
Price is approaching our Pivot point of 0.77346, which is in line with our 50% Fibonacci retracement, 50%, 88% fibonacci extension and horizontal graphical overlap, where we could see a potential drop from this level to our first support level of 0.76590, in line with 61.8% fibonacci retracement, 100% fibonacci extension and horizontal swing low support. It is noteworthy that price is trending under the Ichimoku cloud, and MACD is below 0 line, in line with our bearish analysis.
Pivot: 0.77346
Why we like it:
50% Fibonacci retracement, 50%, 88% fibonacci extension and horizontal graphical overlap
1st Support: 0.76590
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension and horizontal swing low support
1st Resistance: 0.78070
Why we like it:
100%, 78.6% fibonacci extension and horizontal swing-high resistance
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point of 0.77346, which is in line with our 50% Fibonacci retracement, 50%, 88% fibonacci extension and horizontal graphical overlap, where we could see a potential drop from this level to our first support level of 0.76590, in line with 61.8% fibonacci retracement, 100% fibonacci extension and horizontal swing low support. It is noteworthy that price is trending under the Ichimoku cloud, and MACD is below 0 line, in line with our bearish analysis.
Pivot: 0.77346
Why we like it:
50% Fibonacci retracement, 50%, 88% fibonacci extension and horizontal graphical overlap
1st Support: 0.76590
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension and horizontal swing low support
1st Resistance: 0.78070
Why we like it:
100%, 78.6% fibonacci extension and horizontal swing-high resistance
Trading FX & CFDs carries high risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.