Euro / U.S. DollarShort
EURUSD, H4 reversed from our Pivot point, potential for a drop.
Description
Price reversed from our Pivot point of 1.20530, which is in line with our 50% Fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap, where we could see a potential drop from this level to our first support level of 1.19922, in line with a fibonacci confluence. It is noteworthy that price is trending under the Ichimoku cloud and MACD is below the 0 line, in line with our bearish view.
Pivot: 1.20530
Why we like it:
50% Fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Support: 1.19922
Why we like it:
-27%, -61.8% Fibonacci retracement and 100% fibonacci extension.
1st Resistance: 1.20859
Why we like it:
23.6% Fibonacci retracement, 227.2% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Price reversed from our Pivot point of 1.20530, which is in line with our 50% Fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap, where we could see a potential drop from this level to our first support level of 1.19922, in line with a fibonacci confluence. It is noteworthy that price is trending under the Ichimoku cloud and MACD is below the 0 line, in line with our bearish view.
Pivot: 1.20530
Why we like it:
50% Fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Support: 1.19922
Why we like it:
-27%, -61.8% Fibonacci retracement and 100% fibonacci extension.
1st Resistance: 1.20859
Why we like it:
23.6% Fibonacci retracement, 227.2% fibonacci extension and horizontal graphical overlap
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.