Euro / U.S. DollarShort
EURUSD, H4 is testing our Pivot point, potential for a drop.
Price is testing our Pivot point at 1.21265, in line with 61.8% fibonacci retracement, 50% Fibonacci extension and horizontal graphical overlap, where we could potentially see a drop from our pivot towards our 1st support level at 1.20668, which is in line with 61.8% fibonacci extension and 127% fibonacci retracement. Note that price is trending above the moving average and may return to test the level.
Pivot: 1.21265
Why we like it:
61.8% fibonacci retracement, 50% Fibonacci extension and horizontal graphical overlap
1st Support: 1.20668
Why we like it:
61.8% fibonacci extension and 127% fibonacci retracement
1st Resistance: 1.21858
Why we like it:
50% fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
Pivot: 1.21265
Why we like it:
61.8% fibonacci retracement, 50% Fibonacci extension and horizontal graphical overlap
1st Support: 1.20668
Why we like it:
61.8% fibonacci extension and 127% fibonacci retracement
1st Resistance: 1.21858
Why we like it:
50% fibonacci extension and horizontal swing high
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.