Euro / U.S. DollarShort
#EURUSD, H4 approaching our pivot, potential for bearish drop
Description
Price is reacting above our pivot level at 1.18105 which is in line with 127.2% Fibonacci retracement level & horizontal swing low support. Price can potentially take support at 1.16133, which is in line with -61.8% Fibonacci retracement level, 100% Fibonacci extension level. Alternatively, price may rise up to our resistance at 1.19762, which coincides with 127.2% Fibonacci retracement level & horizontal swing high resistance. This is further supported by how MACD is holding below the 0 line.
Pivot:
1.18105
Why we like it:
127.2% Fibonacci retracement level & horizontal swing low support
1st Support:
1.16133
-61.8% Fibonacci retracement level, 100% Fibonacci extension level
1st Resistance:
1.19762
127.2% Fibonacci retracement level & horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is reacting above our pivot level at 1.18105 which is in line with 127.2% Fibonacci retracement level & horizontal swing low support. Price can potentially take support at 1.16133, which is in line with -61.8% Fibonacci retracement level, 100% Fibonacci extension level. Alternatively, price may rise up to our resistance at 1.19762, which coincides with 127.2% Fibonacci retracement level & horizontal swing high resistance. This is further supported by how MACD is holding below the 0 line.
Pivot:
1.18105
Why we like it:
127.2% Fibonacci retracement level & horizontal swing low support
1st Support:
1.16133
-61.8% Fibonacci retracement level, 100% Fibonacci extension level
1st Resistance:
1.19762
127.2% Fibonacci retracement level & 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.