Euro / U.S. DollarShort
#EURUSD reversed from pivot, potential for a drop!
Description
Price is reacting below our pivot level at 1.18218 which is in line with 50.0% Fibonacci retracement level. Price can potentially take support at 1.17479, which is in line with -27.2%Fibonacci retracement level, 100% Fibonacci extension level. Alternatively, price may rise up to our resistance at 1.18532, which coincides with 78.6% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal swing high resistance . This is further supported by how price is holding below the EMA
Pivot:
1.18218
Why we like it:
50.0% Fibonacci retracement level
1st Support:
1.17479
-27.2%Fibonacci retracement level, 100% Fibonacci extension level
1st Resistance:
1.18532
78.6% Fibonacci retracement level, 78.6% Fibonacci extension level & 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.