Price is testing our Pivot point at 0.77710, in line with 78.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical swing high. Where we could potentially see a drop from our pivot towards our 1st support level at 0.77143, in line with 61.8% fibonacci retracement, 50% fibonacci extension and horizontal graphical overlap. It's worth noting that price is under the descending trendline, in line with our bearish analysis.
Pivot: 0.77710
Why we like it:
78.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical swing high
1st Support: 0.77143
Why we like it:
61.8% fibonacci retracement, 50% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.77917
Why we like it:
127% fibonacci extension and horizontal graphical swing high
Trading FX & CFDs carries high risk.
Pivot: 0.77710
Why we like it:
78.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical swing high
1st Support: 0.77143
Why we like it:
61.8% fibonacci retracement, 50% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.77917
Why we like it:
127% fibonacci extension and horizontal graphical swing high
Trading FX & CFDs carries high risk.
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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.