Price has reversed from our Pivot point at 1.19396, in line with 78.6% Fibonacci retracement , 78.6% fibonacci extension and horizontal graphical area, where we could potentially see a drop from our pivot towards our 1st support level at 1.17539, which is in line with 78.6% fibonacci retracement and 61.8% fibonacci extension . Note that MACD has crossed the signal line, showing bearish pressure, in line with our bearish analysis.
Pivot: 1.19396
Why we like it:
78.6% Fibonacci retracement , 78.6% fibonacci extension and horizontal graphical area
1st Support: 1.17539
Why we like it:
78.6% fibonacci retracement and 61.8% fibonacci extension
1st Resistance: 1.20748
Why we like it:
-61.8%, 127% fibonacci retracement and 127% fibonacci extension .
Trading FX & CFDs carries high risk.
Pivot: 1.19396
Why we like it:
78.6% Fibonacci retracement , 78.6% fibonacci extension and horizontal graphical area
1st Support: 1.17539
Why we like it:
78.6% fibonacci retracement and 61.8% fibonacci extension
1st Resistance: 1.20748
Why we like it:
-61.8%, 127% fibonacci retracement and 127% fibonacci extension .
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.