Euro / U.S. DollarShort
#EURUSD, H4 reversed from our pivot, potential for drop
Price has bounced from our Pivot point at 1.19953, in line with 127% fibonacci retracement, 127% fibonacci extension and horizontal overlap, where we could potentially see a push down from our pivot towards our 1st support level at 1.19222, which is in line with 127%, 161.8% fibonacci retracement and horizontal graphical overlap. Note that price is under the Ichimoku cloud and MACD is under the 0-line, in line with our bearish analysis.
Pivot: 1.19953
Why we like it:
127% fibonacci retracement, 127% fibonacci extension and horizontal overlap
1st Support: 1.19222
Why we like it:
127%, 161.8% fibonacci retracement and horizontal graphical overlap
1st Resistance: 1.20321
Why we like it:
78.6%, 100% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Pivot: 1.19953
Why we like it:
127% fibonacci retracement, 127% fibonacci extension and horizontal overlap
1st Support: 1.19222
Why we like it:
127%, 161.8% fibonacci retracement and horizontal graphical overlap
1st Resistance: 1.20321
Why we like it:
78.6%, 100% 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.