EURUSD, H4 testing our Pivot point, potential for a bounce.
Description
Price is testing our Pivot point of 1.21230, which is in line with our 50%, 61.8% Fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 1.21876, in line with a fibonacci confluence. It is noteworthy that price is trending within a bullish channel, in line with our bullish view.
Pivot: 1.21230
Why we like it:
50%, 61.8% Fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Support: 1.20896
Why we like it:
78.6%, 88% Fibonacci retracement, 127% fibonacci extension and horizontal swing low resistance.
1st Resistance: 1.21876
Why we like it:
-27% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price is testing our Pivot point of 1.21230, which is in line with our 50%, 61.8% Fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 1.21876, in line with a fibonacci confluence. It is noteworthy that price is trending within a bullish channel, in line with our bullish view.
Pivot: 1.21230
Why we like it:
50%, 61.8% Fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Support: 1.20896
Why we like it:
78.6%, 88% Fibonacci retracement, 127% fibonacci extension and horizontal swing low resistance.
1st Resistance: 1.21876
Why we like it:
-27% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
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.