Euro / U.S. DollarShort
#EURUSD Potential bearish drop!
Description
Price is reacting below our pivot level at 1.15641 which is in line with 38.2% Fibonacci retracement levelhorizontal overlap resistance. Price can potentially take support at 1.15157, which is in line with 61.8% Fibonacci extension level, 127.2% Fibonacci extension level. Alternatively, price may rise up to our resistance at 1.16114, which coincides with horizontal swing high resistance . This is further supported by how price is now holding below the Ichimoku cloud resistance.
Pivot:
1.15641
Why we like it:
38.2% Fibonacci retracement levelhorizontal overlap resistance
1st Support:
1.15157
Why we like it:
61.8% Fibonacci extension level, 127.2% Fibonacci extension level
1st Resistance:
1.16114
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is reacting below our pivot level at 1.15641 which is in line with 38.2% Fibonacci retracement levelhorizontal overlap resistance. Price can potentially take support at 1.15157, which is in line with 61.8% Fibonacci extension level, 127.2% Fibonacci extension level. Alternatively, price may rise up to our resistance at 1.16114, which coincides with horizontal swing high resistance . This is further supported by how price is now holding below the Ichimoku cloud resistance.
Pivot:
1.15641
Why we like it:
38.2% Fibonacci retracement levelhorizontal overlap resistance
1st Support:
1.15157
Why we like it:
61.8% Fibonacci extension level, 127.2% Fibonacci extension level
1st Resistance:
1.16114
Why we like it:
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.