EURUSD, H4 is testing our Pivot point, potential for a bounce.
Price is testing our Pivot point at 1.20392, in line with 61.8% Fibonacci retracement, 100% fibonacci extension, and horizontal graphical area, where we could potentially see a rise from our pivot towards our 1st resistance level at 1.21172, a fibonacci confluence level. It is noteworthy that Stochastics is showing bullish momentum where price has previously bounced off the 4% level.
Pivot: 1.20392
Why we like it:
61.8% Fibonacci retracement, 100% fibonacci extension, and horizontal graphical area
1st Support: 1.19700
Why we like it:
-27%, 127% Fibonacci retracement, 76.4% fibonacci extension and horizontal swing low support
1st Resistance: 1.21172
Why we like it:
61.8%, 38.2% Fibonacci retracement, 61.8%, 61.8% Fibonacci extension and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot: 1.20392
Why we like it:
61.8% Fibonacci retracement, 100% fibonacci extension, and horizontal graphical area
1st Support: 1.19700
Why we like it:
-27%, 127% Fibonacci retracement, 76.4% fibonacci extension and horizontal swing low support
1st Resistance: 1.21172
Why we like it:
61.8%, 38.2% Fibonacci retracement, 61.8%, 61.8% Fibonacci extension 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.