Description
Price is bouncing from our Pivot point of 1.22493, which is in line with our 38.2% and 38.2% % fibonacci retracement and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 1.23169, in line with a fibonacci confluence. It is noteworthy that price is trending above an ascending trendline and the Ichimoku cloud, in line with our bullish analysis.
Pivot: 1.22493
Why we like it:
38.2% and 38.2% % fibonacci retracement and horizontal graphical overlap
1st Support: 1.22178
Why we like it:
61.8% fibonacci retracement, 88.6% fibonacci extension and ascending trendline support
1st Resistance: 1.23169
Why we like it:
61.8%, 88% fibonacci extension and Horizontal graphical resistance
Trading FX & CFDs carries high risk.
Price is bouncing from our Pivot point of 1.22493, which is in line with our 38.2% and 38.2% % fibonacci retracement and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 1.23169, in line with a fibonacci confluence. It is noteworthy that price is trending above an ascending trendline and the Ichimoku cloud, in line with our bullish analysis.
Pivot: 1.22493
Why we like it:
38.2% and 38.2% % fibonacci retracement and horizontal graphical overlap
1st Support: 1.22178
Why we like it:
61.8% fibonacci retracement, 88.6% fibonacci extension and ascending trendline support
1st Resistance: 1.23169
Why we like it:
61.8%, 88% fibonacci extension and Horizontal graphical 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.