EURUSD, H4 has bounced from our Pivot point, potential for a lo
Price has bounced from our Pivot point at 1.20562, in line with 50% Fibonacci retracement, 61.8%, 78.6 Fibonacci extension and ascending trendline support, where we could potentially see a rise from our pivot towards our 1st resistance level at 1.21543, which is in line with 78.6% fibonacci extension. Note that price is trending above the Ichimoku cloud and ascending trendline, in line with our bullish analysis.
Pivot: 1.20562
Why we like it:
50% Fibonacci retracement, 61.8%, 78.6 Fibonacci extension and ascending trendline support
1st Support: 1.19955
Why we like it:
161.8% fibonacci extension and horizontal graphical overlap.
1st Resistance: 1.21543
Why we like it:
78.6% fibonacci extension
Trading FX & CFDs carries high risk.
Pivot: 1.20562
Why we like it:
50% Fibonacci retracement, 61.8%, 78.6 Fibonacci extension and ascending trendline support
1st Support: 1.19955
Why we like it:
161.8% fibonacci extension and horizontal graphical overlap.
1st Resistance: 1.21543
Why we like it:
78.6% fibonacci extension
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.