EURUSD, H4 bouncing from our Pivot point, potential for a long
Price is bouncing from our Pivot point at 1.19511, in line with 38.2% Fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap, where we could potentially see a rise from our pivot towards our 1st resistance level at 1.20359, which is in line with 78.6% fibonacci extension and horizontal graphical overlap. Note that price is bouncing from the moving average, in line with our bullish analysis.
Pivot: 1.19511
Why we like it:
38.2% Fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Support: 1.18828
Why we like it:
38.2% fibonacci retracement and horizontal swing low support.
1st Resistance: 1.20359
Why we like it:
78.6% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Pivot: 1.19511
Why we like it:
38.2% Fibonacci retracement, 88% fibonacci extension and horizontal graphical overlap
1st Support: 1.18828
Why we like it:
38.2% fibonacci retracement and horizontal swing low support.
1st Resistance: 1.20359
Why we like it:
78.6% fibonacci extension and horizontal graphical overlap
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.