Euro / U.S. DollarShort
#EURUSD, H4 is testing our pivot, potential for drop
Price has reversed from our Pivot point at 1.21971, in line with 61.8%, 78.6%, 61.8% fibonacci retracement, descending trendline resistance and horizontal overlap, where we could potentially see a push down from our pivot towards our 1st support level at 1.21477, which is in line with 61.8% fibonacci retracement and horizontal swing low support. Please note that price is currently trending under a descending trendline, in line with our bearish analysis.
Pivot: 1.21971
Why we like it:
61.8%, 78.6%, 61.8% fibonacci retracement, descending trendline resistance and horizontal overlap
1st Support: 1.21477
Why we like it:
61.8% fibonacci retracement and horizontal swing low support
1st Resistance: 1.22380
Why we like it:
88.6%, 127% fibonacci retracement and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot: 1.21971
Why we like it:
61.8%, 78.6%, 61.8% fibonacci retracement, descending trendline resistance and horizontal overlap
1st Support: 1.21477
Why we like it:
61.8% fibonacci retracement and horizontal swing low support
1st Resistance: 1.22380
Why we like it:
88.6%, 127% fibonacci retracement and horizontal swing high resistance
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.