Euro / U.S. DollarShort
EURUSD, H4 reversed from our Pivot point, potential for a drop
Price has reversed from our Pivot point at 1.20063, in line with 78.6%, 61.8% Fibonacci retracement, 127% fibonacci extension, Ichimoku cloud resistance and horizontal graphical area, where we could potentially see a drop from our pivot towards our 1st support level at 1.19056, which is in line with 78.6%, 88% fibonacci extension, and horizontal swing low support. Note that price is trending under the Ichimoku cloud and stochastic is facing bearish pressure where price has previously reacted off the 94% level, in line with our analysis.
Pivot: 1.20063
Why we like it:
78.6%, 61.8% Fibonacci retracement, 127% fibonacci extension, Ichimoku cloud resistance and horizontal graphical area
1st Support: 1.19056
Why we like it:
78.6%, 88% fibonacci extension, and horizontal swing low support
1st Resistance: 1.20641
Why we like it:
78.6% and -61.8% Fibonacci retracement.
Trading FX & CFDs carries high risk.
Pivot: 1.20063
Why we like it:
78.6%, 61.8% Fibonacci retracement, 127% fibonacci extension, Ichimoku cloud resistance and horizontal graphical area
1st Support: 1.19056
Why we like it:
78.6%, 88% fibonacci extension, and horizontal swing low support
1st Resistance: 1.20641
Why we like it:
78.6% and -61.8% Fibonacci retracement.
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.