#EURUSD, H4 has bounced from Pivot, potential for rise!
Price is approaching pivot level of 1.18128, which is in line with 50.0% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal overlap support. A reversal from this level may see price take resistance at price 1.18606. This level coincides with -27.2%Fibonacci retracement level-27.2%Fibonacci retracement level & horizontal swing high resistance. Finally, we can expect price to take support at 1.1769778.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing low support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.18128
Why we like it:
50.0% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal overlap support
1st Support:
1.17697
78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing low support
1st Resistance:
1.18606
-27.2%Fibonacci retracement level-27.2%Fibonacci retracement level & horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot:
1.18128
Why we like it:
50.0% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal overlap support
1st Support:
1.17697
78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing low support
1st Resistance:
1.18606
-27.2%Fibonacci retracement level-27.2%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.