EURUSD, H4 is approaching our Pivot point, potential for a rise
Price is approaching our Pivot point at 1.19230, in line with 61.8% Fibonacci retracement, 100% fibonacci extension,descending trendline support and horizontal graphical area, where we could potentially see a rise from our pivot towards our 1st Resistance level at 1.20375, which is in line with -27% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. Note that price has broken out of the descending trendline, in line with our bullish analysis.
Pivot: 1.19230
Why we like it:
61.8% Fibonacci retracement, 100% fibonacci extension,descending trendline support and horizontal graphical area
1st Support: 1.18761
Why we like it:
78.6% fibonacci retracement, 161.8% fibonacci extension and horizontal swing low support
1st Resistance: 1.20375
Why we like it:
-27% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Pivot: 1.19230
Why we like it:
61.8% Fibonacci retracement, 100% fibonacci extension,descending trendline support and horizontal graphical area
1st Support: 1.18761
Why we like it:
78.6% fibonacci retracement, 161.8% fibonacci extension and horizontal swing low support
1st Resistance: 1.20375
Why we like it:
-27% fibonacci retracement, 100% 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.