#EURUSD, H4 is bouncing from our pivot, potential for rise
Price is approaching pivot level of 1.18564, which is in line with 38.2% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal swing low support. A reversal from this level may see price take resistance at price 1.19357. This level coincides with 78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing high resistance. Finally, we can expect price to take support at 1.1823861.8% Fibonacci retracement level, 127.2% Fibonacci extension level . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.18564
Why we like it:
38.2% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal swing low support
1st Support:
1.18238
61.8% Fibonacci retracement level, 127.2% Fibonacci extension level
1st Resistance:
1.19357
78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot:
1.18564
Why we like it:
38.2% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal swing low support
1st Support:
1.18238
61.8% Fibonacci retracement level, 127.2% Fibonacci extension level
1st Resistance:
1.19357
78.6% Fibonacci retracement level, 61.8% 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.