Euro / U.S. DollarShort
#EURUSD, H4 is reversing from our pivot, potential for drop
Price is reversing from our Pivot point at 1.19169, in line with 23.6%, 127% fibonacci retracement, and horizontal overlap, where we could potentially see a push down from our pivot towards our 1st support level at 1.18241, which is in line with 78.6%, 161.8% fibonacci retracement and horizontal graphical overlap. Note that price is under the Ichimoku cloud, in line with our bearish analysis.
Pivot: 1.19169
Why we like it:
23.6%, 127% fibonacci retracement, and horizontal overlap
1st Support: 1.18241
Why we like it:
78.6%, 161.8% fibonacci retracement and horizontal graphical overlap
1st Resistance: 1.19973
Why we like it:
50% fibonacci retracement, 88.6% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Pivot: 1.19169
Why we like it:
23.6%, 127% fibonacci retracement, and horizontal overlap
1st Support: 1.18241
Why we like it:
78.6%, 161.8% fibonacci retracement and horizontal graphical overlap
1st Resistance: 1.19973
Why we like it:
50% fibonacci retracement, 88.6% fibonacci extension and horizontal graphical overlap
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.