Description
Price is approaching pivot point at 1.15953 which is in line with 23.6% Fibonacci retracement level & horizontal overlap resistance. A break and close below this level could see a price swing towards 1st support at 1.15706.This level is in line with 61.8% Fibonacci retracement level & horizontal overlap support. Finally, price is unlikely to surpass our strong resistance at 1.16155, which coincides with horizontal swing high resistance . This is further supported by how price is likely to reverse off the RSI resistance level.
Pivot:
1.15953
Why we like it:
23.6% Fibonacci retracement level & horizontal overlap resistance
1st Support:
1.15706
Why we like it:
61.8% Fibonacci retracement level & horizontal overlap support
1st Resistance:
1.16155
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is approaching pivot point at 1.15953 which is in line with 23.6% Fibonacci retracement level & horizontal overlap resistance. A break and close below this level could see a price swing towards 1st support at 1.15706.This level is in line with 61.8% Fibonacci retracement level & horizontal overlap support. Finally, price is unlikely to surpass our strong resistance at 1.16155, which coincides with horizontal swing high resistance . This is further supported by how price is likely to reverse off the RSI resistance level.
Pivot:
1.15953
Why we like it:
23.6% Fibonacci retracement level & horizontal overlap resistance
1st Support:
1.15706
Why we like it:
61.8% Fibonacci retracement level & horizontal overlap support
1st Resistance:
1.16155
Why we like it:
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.