EURUSD, H4 approaching our Pivot point, potential for a long.
Price has bounced from our Pivot point at 1.17988, in line with 23.6%, 38.2% Fibonacci retracement, 61.8%, 61.8% fibonacci extension, descending trendline support and horizontal graphical area, where we could potentially see a rise from our pivot towards our 1st resistance level at 1.18943, which is in line with -61.8% and 78.6% fibonacci retracement. Note that price has broken the descending trendline resistance turned-support and MACD is above the 0 line, in line with our bullish analysis.
Pivot: 1.17988
Why we like it:
23.6%, 38.2% Fibonacci retracement, 61.8%, 61.8% fibonacci extension, descending trendline support and horizontal graphical area
1st Support: 1.17500
Why we like it:
61.8% fibonacci retracement and 161.8% fibonacci extension
1st Resistance: 1.18943
Why we like it:
-61.8% and 78.6% fibonacci retracement
Trading FX & CFDs carries high risk.
Pivot: 1.17988
Why we like it:
23.6%, 38.2% Fibonacci retracement, 61.8%, 61.8% fibonacci extension, descending trendline support and horizontal graphical area
1st Support: 1.17500
Why we like it:
61.8% fibonacci retracement and 161.8% fibonacci extension
1st Resistance: 1.18943
Why we like it:
-61.8% and 78.6% fibonacci retracement
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.