Description:
Price has reversed from our Pivot point at 1.38233, in line with 78.6% fibonacci retracement, 61.8%, 78.6% fibonacci extension, descending trendline and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 1.37075, in line with 78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low. Note that Stochastics is showing bearish pressure as price has previously reacted off the 83% level.
Pivot: 1.38233
Why we like it:
78.6% fibonacci retracement, 61.8%, 78.6% fibonacci extension, descending trendline and horizontal graphical overlap
1st Support: 1.37075
Why we like it:
78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low
1st Resistance: 1.39161
Why we like it:
127% fibonacci extension and descending trendline resistance.
Trading FX & CFDs carries high risk.
Price has reversed from our Pivot point at 1.38233, in line with 78.6% fibonacci retracement, 61.8%, 78.6% fibonacci extension, descending trendline and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 1.37075, in line with 78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low. Note that Stochastics is showing bearish pressure as price has previously reacted off the 83% level.
Pivot: 1.38233
Why we like it:
78.6% fibonacci retracement, 61.8%, 78.6% fibonacci extension, descending trendline and horizontal graphical overlap
1st Support: 1.37075
Why we like it:
78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low
1st Resistance: 1.39161
Why we like it:
127% fibonacci extension and descending trendline 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.