Price is approaching pivot level of 1.38174 where we have 127.2% Fibonacci retracement level & horizontal overlap resistance lining up. A reversal from this level might see price take support at 1.37207, which is in line with 23.6% Fibonacci retracement level, 100% Fibonacci extension level & horizontal overlap support. Finally, price is unlikely to surpass our strong resistance at 1.38901, which coincides with -27.2% Fibonacci retracement levelhorizontal swing high resistance & 100% Fibonacci extension level . This is further supported by how price is likely to reverse off the Stochastic resistance level.
Pivot:
1.38174
Why we like it:
127.2% Fibonacci retracement level & horizontal overlap resistance
1st Support:
1.37207
Why we like it:
23.6% Fibonacci retracement level, 100% Fibonacci extension level & horizontal overlap support
1st Resistance:
1.38901
Why we like it:
-27.2% Fibonacci retracement level horizontal swing high resistance & 100% Fibonacci extension level
Trading FX & CFDs carries high risk.
Pivot:
1.38174
Why we like it:
127.2% Fibonacci retracement level & horizontal overlap resistance
1st Support:
1.37207
Why we like it:
23.6% Fibonacci retracement level, 100% Fibonacci extension level & horizontal overlap support
1st Resistance:
1.38901
Why we like it:
-27.2% Fibonacci retracement level horizontal swing high resistance & 100% Fibonacci extension level
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.