Euro / U.S. DollarShort
EURUSD, H4 reversed from our Pivot point, potential for a drop
Price has reversed from our Pivot point at 1.19118, in line with 78.6% Fibonacci retracement, 61.8% fibonacci extension, descending trendline resistance and horizontal graphical area, where we could potentially see a drop from our pivot towards our 1st support level at 1.18346, which is in line with 61.8%, 88% fibonacci extension, and horizontal swing low support. Note that price is trending under the Ichimoku cloud and descending trendline, in line with our analysis.
Pivot: 1.19118
Why we like it:
78.6% Fibonacci retracement, 61.8% fibonacci extension, descending trendline resistance and horizontal graphical area
1st Support: 1.18725
Why we like it:
61.8%, 88% fibonacci extension, and horizontal swing low support
1st Resistance: 1.19588
Why we like it:
127% Fibonacci retracement and 100% fibonacci extension
Trading FX & CFDs carries high risk.
Pivot: 1.19118
Why we like it:
78.6% Fibonacci retracement, 61.8% fibonacci extension, descending trendline resistance and horizontal graphical area
1st Support: 1.18725
Why we like it:
61.8%, 88% fibonacci extension, and horizontal swing low support
1st Resistance: 1.19588
Why we like it:
127% Fibonacci retracement and 100% fibonacci extension
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.